ABO Wind has achieved financial closure of its 87MW onshore wind farm in Finland. The project has a 10-year PPA with Statkraft.
The Pajuperänkangas wind farm is located in the country’s Northern Ostrobothnia province. It is said to be close to the Haapajarvi municipality.
According to the company, it has been able to generate a debt package from German bank NORD/LB for this wind farm. The company will both build and operate the wind farm.
The project will consist of 14 Vestas turbines in total. This project is under construction at the moment.
Karolin Pampel, Head of Project Finance & Sales Finland at ABO Wind, was quoted in a report: ”This is our largest international project that we have financed with NORD/LB. I believe we have built a solid foundation for further corporation and we hope this project is only the beginning of a long-term partnership.”
The company has planned for complete commissioning of the wind farm by November 2023.
Meanwhile, Heiko Ludwig, Global Head Structured Finance & General Manager London Branch, commented: “Financing sustainable projects of this kind is a matter of great importance for NORD/LB. We have supported our client ABO Wind AG over the last 10 years, in their efforts to expand their activities in the European market. projects.”
The company appreciated the cooperation with ABO team, which has enabled it to explore innovative financing solution.