Ilmatar and the UB Renewable Energy Fund, part of the Finnish asset management group United Bankers, have agreed on the sale of the Korpilevonmäki wind farm located in Säkylä, Southwest Finland. The UB Renewable Energy Fund will initially acquire a 40% stake, followed by the acquisition of the remaining 60% stake upon the fulfillment of certain conditions.
"United Bankers is a new strategic partner for us. Ilmatar will continue to operate the wind farm, even though ownership will transfer to the UB Renewable Energy Fund. Their involvement in the project strengthens our partnership network and opens opportunities to expand cooperation in future renewable energy projects," says Juha-Pekka Weckström, CEO of Ilmatar.
UB Renewable Energy sees the Korpilevonmäki project as an important part of developing its renewable energy portfolio.
"The acquisition of the Korpilevonmäki wind farm is a significant step for the UB Renewable Energy Fund. The decision to acquire the wind farm was influenced by Ilmatar's ability to develop and build high-quality projects, as well as their commitment to operating the wind farm," says Tapio Nuotio, Portfolio Manager of the UB Renewable Energy Fund.
Ilmatar acquired the project rights for the Korpilevonmäki wind farm, which was initiated by local landowners, in 2021 and was responsible for its final development phase. The total capacity of the park is 38.4 MW. The park is Ilmatar's latest wind farm and consists of six turbines. Ilmatar has signed a ten-year power purchase agreement (PPA) with Mondelēz International for the renewable electricity produced at Korpilevonmäki.
Commercial electricity production at the Korpilevonmäki wind farm began in early March 2025, months ahead of the planned schedule. The park is estimated to produce a total of 125 gigawatt-hours (GWh) of renewable energy annually, which corresponds to the electricity consumption of approximately 50,000 apartment buildings or over 6,200 detached houses.
