The Kansai Electric Power Co., Inc. has entered into agreements with Finnish renewable energy company Ilmatar Energy Ltd to acquire 49% of shares in Alajarvi Onshore Wind Farm Project (Project), a utility-scale onshore wind farm in the Republic of Finland.
Finland is actively introducing energy policy to promote onshore wind development so that the share of renewable energy would rise to more than 50% on an energy end-consumption basis during the 2020s. The Project is Kansai’s second onshore wind farm project in Finland, following the Piiparinmäki Onshore Wind Farm Project Kansai participated in last year, which is one of the largest onshore wind farms in Finland.
The Project will be developed via its specific purpose companies namely Ilmatar Alajärvi-Louhukangas Ltd1 (Louhukangas) and Ilmatar Alajarvi-Moksy Ltd1 (Moksy) where 36 wind turbines will be installed with a total nominal capacity of 216 MW at approximately 320 km north of Helsinki. Its commercial operation is targeted to commence at the end of 2023.
Kansai has acquired each 49% of shares in Louhukangas and Möksy, through its subsidiary, KE Alajarvi Holdco B.V.2. With the Project, the net capacity of Kansai’s renewable power overseas now reaches 1,055 MW3 while its net capacity of overall overseas generation assets reaches 2,843 MW3.
As stated in the Kansai Electric Power Group “Zero Carbon Vision 2050” and Medium-term Management Plan, Kansai is firmly committed to promoting energy businesses that contribute to achieving a zero-carbon society across the world by making active use of technological strength and expertise cultivated throughout our company’s history.
