Sept. 30 (Bloomberg) — Impax Asset Management Group Plc
agreed funding of 106 million euros ($134 million) with KfW Ipex
Bank GmbH for a wind farm in Lapland, northern Finland.
Impax will use the project finance for its Kuke wind farm
that’s currently under construction and due to start working in
early 2016, the London-based investor said today in an e-mailed
statement. It will have a capacity of 51 megawatts.
Impax also has bought another Finnish wind facility that
will comprise nine turbines for a capacity of 27 megawatts.
Construction is expected to start next year, it said. The
projects bring Impax’s Finnish wind portfolio to 105 megawatts.
“Finland is an attractive market for the development of
onshore wind-power generation,” said David Trafford-Roberts,
director of private equity at Impax. “It has an excellent wind
resource with a strong and stable regulatory wind regime,
combined with a robust economic and political framework within
the European Union,” he said. “We’re pleased with the levels
of interest shown by both local and international lenders in
financing wind farms in this relatively new market.”
To contact the reporter on this story:
Louise Downing in London at
ldowning4@bloomberg.net
To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Ana Monteiro, Alastair Reed