Swedish developer OX2 has announced the start of construction on three onshore wind farms in Finland, with a combined capacity of 277 MW. Construction begins immediately, and the assets will remain under the company’s ownership once operational. This development marks a new phase in OX2’s expansion in the Finnish market.
Three sites spread across Ostrobothnia
The projects are located in two regions of western Finland. The Kannisto wind farm, in Halsua, Central Ostrobothnia, will include 20 Vestas turbines rated at 6.2 MW each, for a total capacity of 124 MW. It is expected to be operational in 2028. The other two sites—Korkeamaa in Soini and Salo-Ylikoski in Kauhava—are located in Southern Ostrobothnia. Korkeamaa will consist of 17 Vestas turbines ranging from 6.2 to 6.4 MW, for a total of 108 MW, while Salo-Ylikoski will include 7 turbines of 6.4 MW each, for a total of 45 MW.
Target of 860 GWh in annual output
Together, the three sites are projected to generate approximately 860 GWh annually. This output will strengthen Finland’s domestic energy supply in a context of efforts to boost energy security and reduce reliance on imports. Earlier this year, OX2 had already announced two other projects in the country, bringing its total capacity to 750 MW—the largest private investment in renewables in Finland to date.
Financial partners and power purchase agreements
The projects are supported by a long-term debt financing package secured with KfW IPEX-Bank, NatWest, Nordea and SEB. Simultaneously, OX2 finalised long-term power purchase agreements with multiple multinational corporate offtakers, ensuring stable commercial outlets for the generated electricity. Financial details of the agreements were not disclosed.
Long-term strategy anchored in Finland
According to Matthias Taft, Chief Executive Officer of OX2 AB, the projects reflect a strategic growth direction and a commitment to long-term presence in Finland. The company plans to retain full ownership of these assets, aligning with its development approach.
