Transaction: VSB Group Sells 190 MW Wind Farm Portfolio In Finland

Oulu/Helsinki/Dresden - VSB Group is selling its Finnish wind farms Juurakko and Karahka in the North Ostrobothnia region to the Finnish energy company Helen. The two projects were developed by VSB Uusiutuva Energia Suomi Oy, the Finnish subsidiary of the project developer and operator for wind energy and photovoltaics.

The Juurakko wind farm consists of seven wind turbines (WTGs) with a total capacity of 40 MW. The project is currently under construction and commissioning is scheduled for the end of 2022. At the Karahka wind farm, a total of 25 WTGs with a combined capacity of 150 MW will be erected. Construction is scheduled to start in autumn 2022 and the project is scheduled to be commissioned by the end of 2024. In total the 32 turbines have a combined capacity of 190 MW, which is equal to the annual power consumption of 174,000 households.

Helen is the majority shareholder of both wind farms and will acquire these wind assets together with the Ålandsbanken Wind Power Special Investment Fund.

"With Helen and Ålandsbanken we have found reliable and trustworthy national partners for our first Finnish wind farm portfolio. Due to the current geopolitical situation, it is even more important to increase local energy production," said Frédéric Lanoë, CEO of VSB Group. "As a result of these latest acquisitions, wind power is expected to account for one-third of our electricity production in 2025 when more than 90 per cent of our total production would be emission-free," added Antti Sallila, Senior Vice President, Strategy, Mergers and Acquisitions at Helen.

About VSB

Headquartered in Dresden, Germany, VSB Group is one of the leading vertically integrated renewable energy developers in Europe. VSB is majority owned by Partners Group of Switzerland, a leading global manager of private market assets. VSB's core business is project development of onshore wind and PV farms, their operational management and the operation of its own farms. VSB says it has a pipeline of more than 10 GW. To date, more than 700 wind energy and photovoltaic plants with a capacity of around 1.1 GW have been built since 1996. VSB also provides services of around 1.4 GW. The Group and its affiliated companies employ more than 450 people.

Source: IWR Online, Jul 07 2022