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Statkraft signs power agreements with Aquila Capital for two wind farms in Finland

30 Aug, 2021

(Oslo, 30 August 2021) Statkraft and Aquila Capital, a German real asset investment manager, have signed their first power purchase agreements (PPAs) in Finland.

The energy supplied in these PPAs is 100% renewable and generated by the wind farms Mastokangas (68.4 MW) and Korkeakangas (43.2 MW). These are Statkraft’s first deals in Finland with Aquila Capital, one of its longstanding partners in the Nordics.  

The PPAs are long-term, starting in 2022 in which Aquila Capital will provide Statkraft with 100% green electricity from two wind farms at competitive price levels. The wind farms are currently under construction and are expected to be completed in late 2021 and early 2022. When completed, the wind farms will have a total installed capacity of 111.6 MW. Once they are connected to the grid, these plants are expected to produce more than 350 GWh of wind energy per year. 
“The power generated by the wind farms will be used to supply our industrial and commercial customers. We are proud to be able to respond to the specific demands of renewable energy buyers. The agreements with Aquila Capital enable us to fulfil these needs, now also in Finland,” says Arne Kolbeinstveit Wist, Head of Origination and Portfolio Management Nordics at Statkraft.

Aquila Capital’s relationship with Statkraft in the Nordic countries has been ongoing for many years and it has resulted in important operations such as Aquila’s acquisition of Småkraft AS in 2015. After signing their first agreement in Spain earlier this year, Statkraft and Aquila Capital are now continuing their cooperation by entering the Finnish market. 
“We are very pleased to have signed these PPAs with our long-standing strategic partner Statkraft. This agreement will allow us to continue the expansion of renewables in Finland, which supports our ambition to drive the energy transition forward,” says Lars Haavik, director Power Markets Nordics at Aquila Capital.  
About Statkraft 
 Statkraft is a leading company in hydropower internationally and Europe’s largest generator of renewable energy. The Group produces hydropower, wind power, solar power, gas-fired power and supplies district heating. Statkraft is a global company in energy market operations. Statkraft has 4600 employees in 18 countries. 
About Aquila Capital 
 Aquila Capital is an investment and industrial development company focused on generating and managing essential assets on behalf of its clients. By investing in clean energy and sustainable infrastructure, Aquila Capital contributes to the global energy transition and strengthens the world’s infrastructure backbone. The company initiates, develops, and manages these essential assets along the entire value chain and lifetime. Currently, Aquila Capital manages around EUR 13 billion on behalf of institutional investors worldwide. The company has around 600 employees from 48 nations, operating in 15 offices in 13 countries worldwide.  
For more information, please contact: 
Lars Magnus Günther, Press spokesperson, Statkraft AS 
Tel.: +47 91241636 
Aquila Capital 
Eliza De Waard, Group Head Corporate Communications, Aquila Capital 
Tel.: +49 (0)40 875050 101