Impax Agrees 106 Million Euros Funding for Finnish Wind

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

About BloombergNEF

BloombergNEF (BNEF), Bloomberg’s primary research service, covers clean energy, advanced transport, digital industry, innovative materials and commodities. We help corporate strategy, finance and policy professionals navigate change and generate opportunities.

Available online, on mobile and on the Terminal, BNEF is powered by Bloomberg’s global network of 19,000 employees in 176 locations, reporting 5,000 news stories a day.
 
Sign up for our free weekly newsletter →

Want to learn how we help our clients put it all together? Contact us