Infracapital completes the sale of Finnish Wind Power Project to Männikkötuulet Oy

Infracapital acquired the projects in 2019 from OX2, initially in pre-construction phase. The wind farms, which include Storbacken and Kröpuln, have been fully operational since 2021 and generate a total of 60 megawatts of electricity. OX2, the leading technical and commercial management services provider in the Nordics, continues to manage the assets.

Under Infracapital’s ownership, the Novos projects have successfully transitioned from development to full operation, achieving several significant milestones:

• Successful construction during COVID-19 lockdowns: despite the global challenges in the supply chain, the wind farm was completed ahead of schedule, reflecting Infracapital’s commitment to operational excellence
• Three years of steady operational performance
• Significant contribution to the region’s renewable energy targets, supporting the transition to a low-carbon economy. 

Infracapital invested in Novos through Infracapital Greenfield Partners I (IGP I). The strategy of IGP I is to build, deliver and operate essential greenfield infrastructure to meet the changing needs of society and support long-term economic growth across Europe.

Michele Armanini, Managing Director at Infracapital, said: “This sale marks the planned conclusion to our investment in these important wind power projects that are supporting the shift towards cleaner energy systems. From development to full construction, we are proud of the achievements made over the past six years which reflect our commitment to operational excellence.”

Kimmo Nieminen, Managing Director of Männikkötuulet Oy, said: “As domestic energy companies, we want to be actively involved in advancing the green transition. The Storbacken and Kröpuln wind farms are already in production, enabling us to quickly supply renewable energy to our shareholders without years of development and construction”.

Media enquiries

For further information, please contact:

Infracapital via Teneo
Tom Murray
Colette Cahill
E: Infracapital@teneo.com
T: +44 20 7260 2700 

About Infracapital
Infracapital invests in, builds and manages a diverse range of essential infrastructure to meet the changing needs of society and support long-term economic growth. We take an active role in all of our investments, whether nascent or large, to fulfil their potential and ensure they are adaptable and resilient. Our approach creates value for our investors, as we target investments with the scope for stable and sustainable growth. Our portfolio companies work closely with the communities where they are based, to the benefit of all stakeholders. Infracapital is well positioned to deliver the significant investment required to help build the future. The founder-led team of experienced specialists has worked with more than 60 companies around Europe and has raised and managed over €9 billion of client capital across seven funds. Infracapital is part of M&G Plc, an international savings and investments business, managing money for around 4.5 million retail customers and more than 900 institutional clients in 39 offices worldwide. Total assets under management are £345.9 billion (as at 31 December 2024).
www.infracapital.co.uk

About Männikkötuulet Oy
Männikkötuulet Oy is wind power company operating under the Mankala principle. It is owned by five Finnish energy companies. Oulun Energia owns a 40% share of the company, with Kokkolan Energia, Imatran Seudun Sähkö, Oulun Seudun Sähkö and Haukiputaan Sähköosuuskunta holding shares of 25%, 20%, 10% and 5%, respectively. The shareholders are entitled to a share of the company's electricity production corresponding to their share of ownership