OX2 to construct and divest 455 MW Lestijärvi wind farm project in Central Ostrobothnia

OX2 has signed an agreement to construct and divest a 455 MW wind farm in Lestijärvi, Finland, for about EUR650 million (US$733 million) including an agreement for technical and commercial management. Construction will start immediately.

The wind farm will be the largest ever in Finland and will comprise 69 turbines totaling 455.4 MW. The project will have an estimated yearly output of about 1.3 TWh, which corresponds to about 2% of the total annual electricity production in Finland. The wind farm is scheduled to be completed in early 2025.

The buyer is a consortium of Finnish energy companies, Kymppivoima Oy (65%), Oulun Energia (25%) and Kuopion Energia (10%). As part of the agreement, OX2 will construct the wind farm under a tailored fixed price agreement. Once commissioned, OX2 will be responsible for the technical and commercial management of the project under a 15-year agreement, optimizing the production and supervising its safe operations.