VALOREM confirms its international expansion with the approval of a wind power project of almost 300 MW in Finland

6 July 2020

VALOREM has developed a project with its Finnish partner, Megatuuli, with a capacity of around 300 MW, and estimated annual production of approximately 1 TWh. At the end of June, the Supreme Court of Finland announced the lifting of the last administrative appeal, therefore clearing the way for the final stages of financing construction.

Based on Finland’s west coast, the project was launched in 2011 by the developer Megatuuli, which has been a partner of VALOREM since 2014. This wind farm, with a height of up to 230 m, and an installed capacity of between 200 and 300 MW, will be up and running in 2024. It plays a major role in achieving Finland’s European climate goals, as renewable energies already account for a very large share of the country’s energy mix. Finland’s wind power capacity will increase by more than 10 % with this new project, as it benefits from a high wind potential (more than 7.5 m/s) and a secure network connection.

This project confirms the rising power of the VALOREM Group internationally, as the Group will see its total gross installed capacity increase by almost 50%. More specifically, VALOREM is increasing its presence in Finland, where several projects are currently under development for the creation of a portfolio with a capacity of approximately 600 MW. New opportunities are constantly being explored, and the aim is for projects with a total capacity of 1 GW to be in development by the end of 2021.

” A successful energy transition can only be envisaged at the European level. Thanks to the pooling and collaboration between countries, we are confident in the very high growth potential of renewable energies in Finland and the achievement of its European objectives. At VALOREM, we are pleased to be involved in this process, through this major project, and to therefore consolidate our position as an active, responsible and independent producer of green energy,”  explains Jean-Yves GRANDIDIER, founder and Executive Chair of the VALOREM Group.

” Our subsidiary, VALOREM Finland Energy, will open its offices in Helsinki in the autumn, and our Country Director will join the Group in September,” says Nicolas Berard, Director of VALOREM’s International Business Unit. “We are very happy with the favourable ruling by the Supreme Court of Finland, and we are ready to finalise the last stages of development.” 

The wind farm will represent an investment of around EUR 300 million.


Press contact:

Katie Kelly, +353 (0) 1 647 3506, kkelly@hopscotch.eu
Camille Girard, 06 46 30 71 85, camille.girard@valorem-energie.com


About: 

VALOREM Group

As a French independent green energy provider, the VALOREM Group handles the entire process of using renewable energy – from development to operation and maintenance, including assistance with project management, construction, and auditing. A pioneer in wind power in France, with more than 260 employees, VALOREM also operates in the French West Indies, Colombia, Finland, and Greece.

VALOREM holds the following certification: ISO 9001 – Quality, ISO 14001 – Environment, and ISO 45001 – Occupational Safety and Health.

For more information, visit: www.valorem-energie.com

MEGATUULI

Megatuuli is a leading onshore wind farm developer in Finland with a project pipeline of about 1,000 MW in various phases of development. The company also became an energy producer in 2016 when its first wind farm was built (the Tyrinselkä wind farm with Finland’s highest capacity factor to date, more than 45%). Since its establishment in 2010, the company has followed its targets of selecting only the best and most suitable areas for wind farms and developed those with professionalism and high local knowledge and presence.

For more information, visit: https://www.megatuuli.fi/