Press release Commerz Real acquires new Klimavest wind farm in Finland

23.04.2024 • 3 Reading Time

Highlights

Commerz Real continuously expands its renewables portfolio
Turnkey onshore wind farm Lumivaara covers the electricity needs of more than 20,000 average households
Fourth Klimavest wind farm in Finland - total capacity of more than 170 MW

Commerz Real has purchased the Lumivaara wind farm in Finland for its Klimavest fund. The on-shore wind farm with eight turbines has a nominal capacity of 45.6 megawatts (MW) and was handed over by the seller Energiequelle on a turnkey basis.

Commerz Real had previously purchased the Takanebacken (December 2022) and Torvenkylä (March 2023) wind farms from the international project developer for Klimavest. The Lumivaara wind farm, which has now been connected to the grid, can cover the calculated annual demand of more than 20,000 average Finnish households with its estimated electricity production.

Finland offers excellent conditions for wind energy and the legal framework for the construction and operation of subsidy-free wind farms is also very favourable. We have therefore seized the oppor-tunity to secure another profitable asset for our investors in cooperation with Energiequelle.

Yves-Maurice Radwan

Head of Green Deal Infrastructure

Together with Lumivaara, Klimavest now owns a total of four operational wind farms in Finland with a total capacity of more than 170 megawatts. Besides Finland, the fund’s investments focus Spain, Germany, France and Sweden.

The Lumivaara wind farm is located in the municipality of Hyrynsalmi, a part of the Kainuu region, about 560 kilometres north of Helsinki. Turbine manufacturer Nordex is responsible for ongoing full maintenance, while Energiequelle is responsible for the technical and commercial management of the wind farm.