Enersense unit, Valorem team up to develop 1.5 GW of Finnish wind projects

Finnish wind developer Megatuuli Oy, a subsidiary of Enersense International Oyj, entered into a cooperation agreement with French green energy company Valorem SAS to develop 1.5 GW of wind power projects in Finland by 2025.

The agreement spans three years and covers the companies' current mutual wind power projects as well as new wind power projects, according to a May 13 news release. Reaching the 1.5-GW goal would not only bring €1.5 billion in new investments to Finland but would also help meet 6% of the country's electricity demand per year.

Megatuuli and Valorem have previously worked together on a number of wind power projects, including Saunamaa in Kurikka/Teuva; Suolakangas in Kauhajoki; and Kalistanneva and Matkussaari in Kurikka. These projects are in operation or under construction and represent investments amounting to almost €500 million.

Megatuuli has a 3,000-MW pipeline of wind power projects under development and in the pre-feasibility phase. Enersense acquired the company in February.

S&P Global Commodity Insights produces content for distribution on S&P Capital IQ Pro.