Ilmatar has announced the divestment of its Korpilevonmäki wind farm in Säkylä, southwest Finland, to the UB Renewable Energy Fund, part of Finnish asset management group United Bankers.
UB Renewable Energy Fund will initially buy a 40% stake, with plans to acquire the remainder.
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The Korpilevonmäki project is seen by UB Renewable Energy Fund as a key addition to its renewable energy portfolio, bringing 38.4MW capacity.
The project will continue to be operated by Ilmatar after the ownership transfer.
The project was initiated by local landowners, and Ilmatar acquired the project rights in 2021 and completed its final development phase.
The wind farm consists of six turbines and began commercial electricity production in March 2025, ahead of schedule.
It produces 125 gigawatt hours (GWh) of renewable energy annually, enough to power 50,000 apartment buildings or 6,200 detached houses.
Ilmatar CEO Juha-Pekka Weckström stated: “United Bankers is a new strategic partner for us. Ilmatar will continue to operate the wind farm, even though ownership will transfer to the UB Renewable Energy Fund. Their involvement in the project strengthens our partnership network and opens opportunities to expand co-operation in future renewable energy projects.”
Mondelēz International has signed a ten-year power purchase agreement with Ilmatar for the electricity produced at the Korpilevonmäki project.
UB Renewable Energy Fund portfolio manager Tapio Nuotio stated: “The acquisition of the Korpilevonmäki wind farm is a significant step for the UB Renewable Energy Fund. The decision to acquire the wind farm was influenced by Ilmatar’s ability to develop and build high-quality projects, as well as their commitment to operating the wind farm.”
In May 2024, Ilmatar applied for an environmental permit to develop a 450MW solar farm in Sweden.
The proposed 450-hectare Tönnersjö project is located in Halland County and expected to become operational in 2033.
