Impax in Talks to Invest in Finland’s Nascent Wind Farm Industry

July 3, 2013 by  
Filed under Green Energy News

Impax Asset Management Group Plc (IPX),
overseeing about $3.5 billion, is in talks to buy wind farms in
Finland where the country is seeking to catch up with European
peers like Germany that have more than 100 times the capacity.

Impax is in discussions with developers of onshore projects
that it may be able to acquire in the next six months to a year,
Chief Executive Officer Ian Simm said in an interview in London.

“Regulations in Finland are relatively new so there isn’t
that much competition and not many deals have been done so it’s
quite a nascent market,” he said. “Not that many institutional
investors appear to be targeting it at the moment so it’s an
early mover opportunity.” Impax closed its second 330 million
euro ($428 million) private-equity fund in September 2011.

Finland had 288 megawatts of installed wind capacity at the
end of 2012, trailing Germany with 31,308 megawatts and Spain
with 22,796, according to European Wind Energy Association data.
The Finnish government plans to raise electricity consumption
from wind power to 6 percent of its total demand by 2020, or
about 6 terawatt-hours, from the current level of 1 percent.

Onshore wind generators in Finland receive feed-in tariffs,
or premium payments, of about 105 euros a megawatt-hour.

While Finland won’t bring its capacity to the level of top
European producers, its reliance on hydropower may curb the cost
of generating power needed to back up the intermittent supplies
from wind, said Mauricio Bermudez Neubauer at Accenture Plc.

Wind energy is growing fast in Finland and the country
has big plans for it,” the wind-power analyst said.

To contact the reporter on this story:
Louise Downing in London at

To contact the editor responsible for this story:
Reed Landberg at

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