Finnish outfit Ilmatar Energy is aiming to construct and operate up to 1GW of wind capacity in the next five years.
The company is a conglomerate of FPCI Capenergie 3, a €245m fund dedicated to renewable energy and managed by Omnes Capital (70%), and Ilmatar Windpower (30%).
Ilmatar recently acquired its first project, the 200MW Piiparinmaki-Murtomaki wind farm, from Finnish state-owned company Metsahallitus.
Construction of the 50-turbine facility is slated for 2019, with full operations expected in 2021.
“The project is aimed to be built without any subsidies but is also well-positioned to participate in the upcoming renewable energy premium scheme,” Ilmatar Energy said.
Ilmatar chairman and co-founder Kalle Pykala added: “We are taking both the Finnish wind market as well as Ilmatar to the next level.
“No longer driven by subsidies, the Finnish wind market is ready to continue its rapid growth.”