OX2 has commenced construction of three onshore wind projects in Finland following a final investment decision, covering a cumulative capacity of 277 MW. The Kannisto wind farm is located in Central Ostrobothnia, and the Korkeamaa wind farm and Salo-Ylikoski wind farm are located in Southern Ostrobothnia. Collectively, the three wind farms are expected to generate approximately 860 GWh of electricity annually.
The Kannisto wind farm will consist of 20 Vestas turbines rated at 6.2 MW each, resulting in a total capacity of 124 MW, and is scheduled to begin operations in 2028. The Korkeamaa wind farm in Soini will deploy 17 Vestas turbines with capacities of 6.2 MW and 6.4 MW, totalling 108 MW, and is expected to be operational in 2027. Additionally, the Salo-Ylikoski wind farm will include seven Vestas turbines rated at 6.4 MW, with an installed capacity of 45 MW, and is also planned to commence operations in 2027.
All three wind projects have secured long-term power purchase agreements with multinational corporate offtakers. Furthermore, they will remain under OX2’s ownership after the completion of construction Moreover, OX2 has arranged long-term debt financing for the projects through a consortium of lenders, including KfW IPEX-Bank, NatWest, Nordea, and SEB.
