Norwegian energy company Statkraft is to buy electricity from German real asset investment manager Aquila Capital from wind farms in Finland under power purchase agreements (PPAs).
The PPAs start in 2022 and will see Aquila Capital provide Statkraft with 100% green electricity from two wind farms at competitive price levels.
The projects are currently under construction and are expected to be completed in late 2021 and early 2022.
The wind farms will have a total installed capacity of 111.6MW and are expected to produce more than 350 gigawatt-hours of electricity a year.
Statkraft head of origination and portfolio management Nordics Arne Kolbeinstveit Wist said: “The power generated by the wind farms will be used to supply our industrial and commercial customers.
“We are proud to be able to respond to the specific demands of renewable energy buyers. The agreements with Aquila Capital enable us to fulfil these needs, now also in Finland.”
Aquila Capital director of Nordic power markets Lars Haavik said: “We are very pleased to have signed these PPAs with our long-standing strategic partner Statkraft.
“This agreement will allow us to continue the expansion of renewables in Finland, which supports our ambition to drive the energy transition forward.”