Construction of Niinimäki Wind Farm in Pieksämäki, Finland

The 145 MW Niinimäki Wind Farm development in Pieksämäki, Finland, represents a clear strategic move by Helen to bolster its renewable generation portfolio, directly supporting its electricity provision for the Helsinki metropolitan area. Announced in 2022, this onshore wind project allows Helen, a Finnish energy company owned by the City of Helsinki, to diversify its energy mix. The co-ownership structure with Ålandbanken's Wind Power Special Investment Fund indicates a shared capital outlay model, leveraging the fund's specific mandate for acquiring and managing long-term wind power assets across the Nordic region. OX2, as the developer, manages the entire value chain for the Finnish project, taking on the early-stage development responsibilities. OX2 brings its full-value-chain expertise in onshore wind to the Niinimäki project in Finland. For Helen, this 145 MW facility directly enhances its capacity to serve customers in the Helsinki metropolitan area, aligning with its role as a major energy provider. Ålandbanken's Wind Power Special Investment Fund's participation aligns precisely with its investment vehicle's focus on acquiring and managing wind power assets within the Nordic region. Eltel Networks, a leading Nordic technical service provider with approximately €974 million in annual revenue, secures the EPC role, specializing in the planning, construction, and maintenance of critical infrastructure networks for the Pieksämäki site. This collaboration among Finnish and Nordic entities underscores a continued regional commitment to developing domestic renewable energy infrastructure.