Aquila Capital to Take Over Korkeakangas Wind Farm From OX2 in Finland


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OX2 gives the Korkeakangas windfarm in Finland to Aquila Capital. Aquila Capital is a sustainable asset management and asset development firm based in Hamburg. The wind farm consists of nine wind turbines, with a total output in excess of 45 MW.

OX2 and Aquila capital had agreed to build the Korkeakangas windfarm in Karstula (Central Finland) in January 2020. OX2 built the wind farm as part of an EPC agreement (Engineering, Procurement, Construction).

The wind farm, which is now in commission, consists of nine Nordex turbines that produce an annual average of 140 GWh. This is equivalent to approximately 28,000 households using 5,000 kWh per household.

“Aquila Capital’s commitment to renewable energy in Northern Europe continues to grow with the completion of the Korkeakangas windfar being commissioned. We are one of the largest investors in renewable energy across the Nordics. Finland is an important market for our company. We actively participate in the energy transition by implementing projects that contribute to combating climate change. We are also creating opportunities for investors to earn interesting returns with plannable risk,” Joakim Johnsen Head of Markets & Operations Aquila Clean Energy EMEA at Aquila Capital.

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“It’s great to be able to hand over the Korkeakangas Wind Farm to Aquila Capital. The fact that the wind farm has been commissioned is a result o great cooperation and achievements by all involved. OX2 will manage the wind farm. We look forward to continuing to be a partner to Aquila Capital. Aquila Capital is a company that we met as an investor and was very active in the transition towards renewable energy systems,” said Paul Stormoen CEO of OX2 AB.

OX2 will continue to manage the financial, technical, and commercial aspects of the wind farm for the remainder of the 10-year contract.

Facts about Korkeakangas Wind Farm:

Nine Nordex N149 4.8 MW wind turbines totaling 230m in height

Principal subcontractors: Nordex, Turbine Supplier, KSBR (infrastructure Work, Foundations), Fingrid (Grid Connection).

Construction began in Spring 2020, and was completed by Spring 2022

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