CIP has entered into a framework agreement with Myrsky, a Finnish developer specialising in wind power, to develop more than 1.8 GW of onshore wind power in Finland. This capacity will make a material contribution to Finland’s 2035 carbon neutrality target.
The partnership is reflective of CIP's strategy to pursue investments which deliver the step change in scale and pace of development required to meet the ambitious targets set by governments. The portfolio of wind projects will not only contribute to Finland’s net zero ambition but also improve energy security and help strengthen communities and transform local economies through job creation and additional tax revenues.
This marks the first investment by CIP in onshore wind power in the Nordic countries.
Nischal Agarwal, Partner in CIP, said of the transaction: “We believe Finland has excellent conditions for large scale onshore wind projects and a significant ambition to decarbonise by 2035 and achieve energy security. We are pleased to partner with Myrsky who is a leading renewables developer in Finland and we look forward to our cooperation and combining our expertise to participate in Finland’s energy transition.”
Tuomas Candelin-Palmqvist, entrepreneur and founder of Myrsky, commented: “We are delighted to partner with CIP to accelerate the delivery of Myrsky’s wind power projects over the coming years. On a global scale, Finland has unique onshore wind energy potential to produce renewable electricity. Green energy investments can create industry-scale business opportunities, local welfare, and employment as well as boost our energy security. Renewable energy is the new welfare industry for Finland."