Acquisition of Two Onshore Wind Farms in Finland

Source: www.gulfoilandgas.com 12/24/2021, Location: Europe

Octopus Renewables Infrastructure Trust plc is pleased to announce that it has exercised the call option announced in October 2021 and completed the acquisition of two onshore wind farms in Finland. The total consideration for the acquisition, including the option deposit and funding for the final construction payments was approximately €140 million.

The Saunamaa and Suolakangas wind farms have a combined installed capacity of 71.4MW, and are in the final stages of commissioning. The acquisition agreement passes the residual construction cost and timing risks associated with commissioning to the vendor.

The sites are expected to generate sufficient energy to power over 45,000 Finnish homes, avoiding the equivalent of 68,000 tonnes of carbon dioxide emissions per annum.

These sites were acquired from an entity for which the Company's investment manager, Octopus Renewables Limited, provides asset management services.

Phil Austin, Chairman of Octopus Renewables Infrastructure Trust plc, commented:
"We are pleased to complete this transaction in Finland, acquiring two onshore wind farms, Saunamaa and Suolakangas, expanding our reach into an exciting new European territory. It is especially attractive due to the near term completion of the assets, and the further geographic diversification the acquisition brings to our portfolio."


Norway >>  6/24/2022 - Norfolk born Richard Beck spent seven years in the British Army as a Royal Engineer before transitioning into a career within the offshore wind sector...
Germany >>  6/23/2022 - In the Esbjerg Declaration in May at the North Sea Energy Summit, Germany, the Netherlands, Denmark, and Belgium agreed to jointly install at least 65...

Germany >>  6/23/2022 - - Achieving offshore targets requires new tender approach– novel framework agreement offers growth opportunities for technology companies and transmis...
United States >>  6/23/2022 - The U.S. Department of Energy (DOE) announced it will lead in the development of a comprehensive offshore wind supply chain roadmap as part of its par...

United States >>  6/23/2022 - Crowley and ESVAGT have executed additional joint venture agreements that further strengthen their commitment to support purpose-built, Jones Act vess...
Canada >>  6/22/2022 - Capstone Infrastructure Corporation announces that its wholly owned subsidiary, Wild Rose 2 Wind LP, has entered into a 78 MW Renewable Attributes Pur...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.