Press Release
DekaBank finances Finnish onshore wind farms "Louhukangas" and "Möksy"
Frankfurt – 09.08.2021
Acting as sole arranger and lender, DekaBank has provided loans totalling some EUR 145 million for the construction and operation of the "Louhukangas" and "Möksy" onshore wind farms in Finland. These two wind farm projects are being carried out by the Finnish renewable energy company Ilmatar Energy and the Japanese leading utility company The Kansai Electric Power Co., Inc.
Offering a total capacity of 216 MW, the wind farms will be built in central Finland, approximately 320 km north of Helsinki, and will comprise a total of 36 wind turbines from turbine manufacturer Vestas, with construction expected to be completed at the end of 2023.
The wind project is backed by power purchase agreements (PPAs) from notable corporates, enabling the project to be unsubsidised.
In recent years, DekaBank has financed the construction and operation of the "Björnberget" (372 MW) and "Stavro" (254 MW) wind farms in Sweden, the "Piiparinmäki" (211 MW) wind farm in Finland and the "Tellenes" (160 MW), "Kvitfjell" (197 MW), "Raudfjell" (84 MW) and "Guleslettene" (197 MW) wind farms in Norway, making DekaBank one of the most active providers of financing for wind farm projects in Scandinavia.
About Deka
DekaBank is the securities services provider of the German Savings Banks Finance Group (Sparkassen-Finanzgruppe). Together with its subsidiaries it forms Deka Group. With total customer assets of more than EUR 395 billion (as at 31/12/2021) and more than 5.2 million securities accounts, DekaBank is one of the largest securities services providers and real estate asset managers in Germany. DekaBank is a wholly owned subsidiary of the German Sparkasse savings banks and forms an integral part of the Sparkassen-Finanzgruppe.
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