French fund manager Conquest has completed the acquisition of two onshore wind farms in Finland with a total capacity of 182MW.
The fund manager executed the deal through its fund, Conquest Infrastructure SLP – Sustainable 2.
The wind farms were developed by Winda Energy, a Finnish renewable energy developer majority-owned by Czech Republic-based BHM Renewables.
Conquest founder and managing director Frederic Palanque stated: “Conquest is thrilled to enter, in partnership with Winda Energy, in sustainable real assets in a market recognised for its robust renewable energy fundamentals and its ambitious net-zero road map.”
The collaboration with Winda Energy includes additional onshore wind projects with 500MW of capacity.
The transaction represents a phased total investment of €1bn ($1.08bn), which will be progressively utilised between 2024 and 2028.
The first two wind projects are nearing the ready-to-build stage, with the initial 182MW ready by the fourth quarter (Q4) of 2024 and the remaining capacity by Q4 2025.
Winda Energy will complete the development and oversee the construction of these projects.
Commercial operations for the portfolio will commence between 2026 and 2028.
Winda is also managing the development of 25 other wind and solar power projects throughout Finland.
Winda Energy CEO Tuomas Hooli stated: “We are happy to cooperate with Conquest, a dynamic and reliable partner on our growth journey. The transaction secures the completion of some of our flagship projects over the next years, enabling us to extend our contribution to Finland’s green energy transition.”
BHM Renewables associate partner Michal Prause stated: “We are extremely pleased with the outcome of the transaction, reflecting the deep development skills which our affiliate Winda has been demonstrating on the Finnish renewable power market over the years.
“We are looking forward to the strategic partnership with the highly professional asset management and investment teams of Conquest.”
