Press release|13.5.2022

Enersense’s subsidiary Megatuuli and Valorem enter into a co-operation agreement on 1,500 MW wind power development projects in Finland

Enersense International Plc   
Press release, 13 May 2022 at 9:00 a.m.

Greenfield wind power developer Megatuuli Oy, a subsidiary of Enersense International Plc, a provider of zero-emission energy solutions, and French green energy company Valorem have signed a mutual co-operation agreement targeting to develop 1,500 MW worth of wind power projects in Finland by 2025.

Reaching the goal would bring new investments to Finland totaling 1.5 billion EUR. The term of the agreement spans three years and covers the companies’ current mutual wind power projects in addition to new wind power projects. The two companies have previously collaborated in multiple wind power projects including Saunamaa in Kurikka/Teuva, Suolakangas in Kauhajoki, and Kalistanneva and Matkussaari in Kurikka. These projects, investments amounting to almost half a billion EUR, are currently in operation or under construction.

The completed projects as well as projects under development play a major role in the shift towards greener energy in Finland along with achieving greater electricity self-sufficiency. Upon completion these projects would meet 6 per cent of Finnish annual electricity demand.

“Domestic and international interest toward wind power investments has risen in recent years and has really surged during the past few months”, remarks Lauri Lammivaara, Vice President of wind power development in Enersense.

Megatuuli in brief

Enersense acquired on 1 February 2022 Megatuuli Oy, a Finnish onshore wind power development company established in 2010, which operations focus on early-stage development work in wind power projects. Megatuuli currently has in its project pipeline 3,000 MW worth of wind power projects under development and in pre-feasibility phase. Seven wind power projects have been developed and built or are under construction by Megatuuli and its partners, consisting of 41 wind power plants. The total investment value of these projects is around EUR 250 million. Tyrinselkä, the first project that progressed to the construction phase, has been producing wind power since 2016 and was after its commissioning the wind power farm with the best capacity factor.

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