NIB loan for wind power park in Vaasa, Finland

Illustration of EPV Tuulivoima’s Vaasan Torkkolan tuulivoimapuisto.
Photo: courtesy of EPV Tuulivoima

NIB has agreed a EUR 20 million loan to EPV Tuulivoima Ltd. The 12-year-maturity loan has been provided for constructing Vaasan Torkkolan tuulivoimapuisto, a wind turbine park near the city of Vaasa in Finland.

The power park will consist of 16 wind turbines, each with a capacity of 3.3 MW. The total park capacity will be 52.8 MW, and the yearly production is estimated at 150,000 MWh.

The park is scheduled to commence operation during the summer of 2015. It will help Finland to reach its target of increasing wind power production to 6 TWh by 2020.

EPV Tuulivoima Oy is a special purpose ‘Mankala company’, a unique ownership model for energy production companies developed in Finland. The purpose of the Mankala companies is to produce affordable energy for their owners. EPV Tuulivoima Oy is fully-owned by EPV Energy Ltd, a Finnish energy company that produces and supplies electricity and heat for its shareholders.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact
Mr Sebastian Påwals, Director, Head of Energy & Environment, at +358 10 618 0527,
Mr Arild Moen, Senior Communications Officer, at +358 10 618 0420,