* The two companies will develop and construct an onshore wind power portfolio in North Ostrobothnia and Lapland in Finland.
* Tuulialfa is responsible for the development of the projects and OX2 for the financing, procurement, construction and operation of the projects.
Swedish renewable energy company OX2 has announced that it has signed an agreement with Finnish clean energy player Tuulialfa for the development and construction of an onshore wind power portfolio in North Ostrobothnia and Lapland in Finland. The total capacity of the project is slated to be approximately 1,200 megawatts (MW).
OX2 said that the agreement covers six wind power projects. As per the details of the contract, a total of around 150 wind turbines are planned to be installed in the entire wind project.
According to the agreement, Tuulialfa is responsible for the development of the projects and OX2 for the financing, procurement, construction and operation of the projects.
The projects included in the agreement are expected to be ready for investment between 2025 and 2028. The projects are located in Utajarvi, Pudasjarvi, Oulu, Kittila and Kuusamo. The projects included in the agreement are largely in the planning phase, when they will be included in project portfolio of OX2.
"The project complex responds in part to the growing need created by future electricity consumption and further strengthens our project portfolio of about five gigawatts of onshore wind power," says Veli-Pekka Alkula, project development director of onshore wind power, OX2.
Tuulialfa CEO Antti Tanskanen stated, "We are very satisfied with the long-term contract with Europe's most significant onshore wind power builder. The cooperation complements Tuulialfa's know-how in an excellent way. Now, with OX2, we can prepare the construction and production phase of the projects already in the approval phase of the projects. This speeds up the progress of projects into functioning wind farms that benefit regions and society."
OX2 and Tuulialfa said that they are also developing the Turkkisela project in Vaala.
According to Fingrid's forecast, by 2030 electricity consumption in Finland will increase from 82 terawatt hours to 136 terawatt hours. The National Energy and Climate Strategy of Finland wants to raise the consumption of renewable energy over 50% by the end of this decade. The highest expansion is witnessed in the wind energy sector in recent years.
The Finnish Wind Energy Association (FWPA) said that the wind power capacity of the country witnessed a 75% surge in 2022. Currently, Finland boasts of about 1,400 wind turbines that produce 5.7 GW of green energy that is enough to meet the needs of an estimated 5.5 million households.