Wedoany.com Report-Apr 4, Ilmatar has recently entered into a sale agreement with United Bankers' Renewable Energy Fund, part of the asset management group United Bankers. The fund will acquire a 40% stake in the Korpilevonmäki wind farm located in Säkylä, with the remaining 60% stake to be acquired upon the fulfillment of specific conditions.

The wind farm, which consists of six turbine generators, has a total capacity of 38.4 MW. Ilmatar will continue to operate the facility, ensuring that its existing management and operational framework remain intact. Juha-Pekka Weckström, Ilmatar's chief executive, emphasized that this partnership represents a significant step forward for the company. He stated, "United Bankers is a new strategic partner for us. Ilmatar will continue to operate the wind farm, even though ownership will transfer to the UB Renewable Energy Fund. Their involvement in the project strengthens our partnership network and creates opportunities to expand cooperation in future renewable energy projects."

UB Renewable Energy Fund sees the acquisition of the Korpilevonmäki wind farm as a crucial milestone in developing its renewable energy portfolio. Tapio Nuotio, the portfolio manager, highlighted the decision to acquire the wind farm as influenced by Ilmatar's ability to develop and deliver high-quality projects, as well as their commitment to operating the facility. Ilmatar acquired the project rights for the Korpilevonmäki wind farm in 2021, following an initiative by local landowners, with Ilmatar responsible for the final development phase.

The project has been signed with Mondelēz International for a 10-year power purchase agreement (PPA), ensuring a steady supply of renewable electricity. Commercial electricity production at the site is set to begin in early March 2025, ahead of schedule. The wind farm is projected to generate an annual total of 125 gigawatt-hours (GWh) of renewable energy, equivalent to the electricity consumption of approximately 50,000 apartment buildings or over 6,200 detached houses.

This collaboration underscores the growing importance of renewable energy in the energy mix and highlights Ilmatar's commitment to advancing sustainable energy solutions. The sale of the wind farm to United Bankers' Renewable Energy Fund represents a significant milestone in Ilmatar's journey toward achieving its renewable energy goals.