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POWER Digest [July 2021]
GE Will Supply Finnish Wind Farm. General Electric (GE) in late May said it will deliver 16 Cypress onshore wind turbines for the 88-MW Puskakorpi wind farm in Finland. Each 5.6-MW-158 turbine will be installed under a 30-year full-service agreement. The project was co-developed by Finland’s Smart Windpower Oy, Mincovest Oy, and GE Renewable Energy. GE Energy Financial Services (EFS) also was a partner in the project, raising the long-term project finance debt. GE EFS also was responsible for sourcing an investor for the project, which was acquired by Foresight Energy Infrastructure Partners, a Luxembourg Special Limited Partnership for which Foresight Group LLP acts as portfolio manager. Societe Generale, a leading bank in the field of renewables financing, is the sole lender. The project is Foresight’s first onshore wind investment in Finland and first partnership with GE’s onshore wind technology. The installation is expected to play a significant role in supporting Finland’s goal of meeting 50% of its energy end-consumption from renewable energy sources by 2030. The project is expected to begin commercial operation in late 2022. Construction contracts will be executed by Suvic Oy, as the civil and electrical balance of plant contractor, and Ramboll as the project’s construction manager. Both companies are experienced in the Finnish market. GE Renewable Energy now has more than 1.5 GW of committed onshore wind capacity in the Nordics for its Cypress platform.