The joint team of Fortum and Uniper for wind and solar businesses in Europe is launching its first project. Fortum has made an investment decision to start the construction of the 380MW Pjelax-Böle and Kristinestad Norr wind parks in Närpes and in Kristinestad, Finland in partnership with the Finnish energy company Helen Ltd.
The project consists of 56 wind turbines and construction with civil works will start in January 2022 and the wind parks are expected to be fully operational at the latest in the second quarter of 2024. Fortum will retain a 60% majority and Helen a 40% minority ownership in the project and the investment will be consolidated on Fortum’s balance sheet. The total capital expenditure of the projects is approximately € 360 million, of which Fortum’s share is € 216 million. Fortum and Helen have also signed a long-term electricity sales agreement (PPA, power purchase agreement) according to which Helen is to purchase approximately half of the power generation from the Pjelax-Böle and Kristinestad Norr wind parks.
