London-based Impax Asset Management Group said it had purchased two wind farms from Fortum Oyg and Metsahallitus. Fortum is Finland's largest utility firm while Metsahallitus is the water and land manager run by the state. Impax said it intended to make more acquisitions in Finland's wind market. The two wind farms are located in Northern Finland.
In an emailed statement to Bloomberg, Impax said the purchase was made through Impax Asset Management's New Energy Investors II fund. No financial details were given about the acquisition.
Impax Managing Director Daniel von Preyss said, "Given the early stage of the Finnish wind market, we see this portfolio as an excellent foundation asset for our wind investment program in the region. This is a key market for Impax and we target follow-on acquisitions as the market continues to grow."
Impax said it would commence with the fundraising to finance the wind farm after the transaction would be finalized. Impax currently has USD 3.7 billion of capital under management, Bloomberg reported.
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