International solar developer ib vogt has sold a 206 MWp solar PV project to Finnish energy company Helen. The solar farm is located in Kalanti, Uusikaupunki, in South-West Finland and is ready to be built. As part of the offered turn-key solution, ib vogt will provide full EPC, O&M and Asset Management services and start construction in the second quarter 2023.
With the location in Finland having similar solar radiation levels to northern Germany, the solar power plant is expected to produce more than 200 GWh of clean energy per year, once it reaches commercial operation starting in late 2024.
The solar project marks a milestone for ib vogt as the first plant to be built in a Nordic country and is exemplary for the continuous growth and internationalisation of the company. The PV farm will consist of more than 380,000 high-capacity bifacial solar modules built on a fixed-tilt substructure for optimal performance. The panels will produce clean solar electricity equivalent to the average annual consumption of approximately 28,800 households, while saving up to 17,600 tons of CO2 per year.
“Finland and all Nordic countries are a growing market for renewable energy, including solar, and we are excited to execute our first project there and working on many more to come,” commented Anton Milner, CEO of ib vogt. “We are delighted to work with Helen to advance their environmental objectives and support the efforts in diversifying power production for their customers. Many thanks to the people at Helen and all involved parties, who put a tremendous amount of effort into bringing this acquisition over the finish line with a very ambitious timeline to advance the transition toward clean energy production.”
“Solar power production in Finland will grow exponentially in the future. The solar power plant located in Kalanti, Uusikaupunki, is our first acquisition of a ready-to-build solar project and one of the largest in Finland. The industrial-scale solar power plant is an addition to our production of domestic, emission-free energy, while also increasing our energy self-sufficiency. Increasing the amount of electricity produced by solar power also supports our goal to be carbon neutral by 2030 and the transition towards a decentralised energy system, where energy is produced from different sources,” says Helen’s M&A Director Jenny Söderman.
This achievement was concluded following outstanding support from several selected advisors. Newsec Infra provided financial advice and Hannes Snellman provided legal advice.
ib vogt has been active in the Finnish market since 2020, building up capabilities to execute and actively developing projects in the country. The local development team benefits from ib vogt’s strategic positioning and experience of over 20 years, drawing on the know-how and capabilities of the engineering and execution teams who have successfully delivered solar projects around the world and continue to power the energy transition.