Press release, Investor news|1.3.2023

The project of 50 wind power plants in Yli-Olhava, Ii, included in Enersense’s project development portfolio, is progressing

Enersense International Plc
Investor News 1 March 2023 at 2:15 p.m.

The Yli-Olhava wind-power park project in Ii developed by Megatuuli Oy, a subsidiary of Enersense, a provider of zero-emission energy solutions, is progressing as planned. By its ruling of 28 February, the Supreme Administrative Court rejected the application for leave to appeal concerning the adoption of the local master plan, and the plan has thus gained legal force.

On 1 February 2021, the Municipal Council of Ii unanimously approved the Yli-Olhava wind farm component master plan, which allows the construction of 50 wind power plants in the area. Megatuuli has leased more than 6,000 hectares of land for the project, and the project involves more than 100 landowners. The project will be developed in collaboration with Megatuuli’s French partner Valorem, and the project investment is estimated to be in the range of EUR 400–500 million. Wind measurements have been under way for more than two years, and the wind conditions in the area are excellent. When completed, the wind farm is estimated to generate more than 1 TWh of electricity, or about 1.5% of Finland’s total electricity demand.

“This is a major project of great importance for us, and we are pleased that we reached this important milestone and that the project now proceeds to the next stages. The project is also of great importance to the municipality of Ii, as the municipality will receive considerable property tax revenue. The wind farm has been estimated to yield annual property tax revenue of over EUR 1,5 million to the municipality of Ii,” says Lauri Lammivaara, Vice President of Wind Power Development at Enersense.

The other financial impact on the municipality and the neighbouring municipalities is also estimated to be significant. The project will create new jobs and also provide employment opportunities indirectly. The investment decision in the project is estimated to be made in 2024–2025.

More information:  

Lauri Lammivaara, Vice President, Wind Power Development
Tel. +358 440 330 498

Media contacts
Tommi Manninen, SVP, Communications and Public Affairs
Tel. +358 40 043 7515

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