Neoen announces the commissioning of Hedet wind farm in Finland, supplying green electricity to Google

Neoen announces the commissioning of Hedet wind farm in Finland, supplying green electricity to Google

• • The 81 MW Hedet wind farm will generate renewable, carbon-free and competitively priced electricity to cover the power needs of Google’s Hamina data center in Finland
• • Hedet is the first of Neoen’s assets in Finland to enter service, demonstrating its ambition of becoming a leading player in the country’s renewable energies segment

• • Neoen is currently finalizing the development of Mutkalampi, another wind farm in Finland, with a second power purchase agreement with Google covering 130 MW of the 250 MW facility’s total capacity
• • The commissioning of the Hedet wind farm follows on from Neoen’s recent announcement that it is launching construction in Finland of Yllikkälä Power Reserve One, 30 MW/30 MWh, the Nordic countries’ largest energy storage unit, to help improve the grid’s stability

Neoen (ISIN: FR0011675362, Ticker: NEOEN), one of the world’s leading and fastest-growing independent producers of exclusively renewable energy, is announcing the commissioning of its 81 MW Hedet wind farm in Närpes, Finland. Neoen owns an 80% stake in the facility alongside Prokon Finland, which holds the remaining 20%.

All the power generated by Hedet will be purchased by Google, under a 10-year power purchase agreement.

The electricity will be injected into the grid that supplies Google’s data center at Hamina in Finland and will thus help to cover some of its electricity needs with renewable energy.

The Hedet facility is equipped with 18 Nordex N149 wind turbines, each with 4.5 MW in unit capacity.

The German and Swedish commercial banks KfW Ipex and SEB provided €66.5 million in senior debt to help finance the power plant. The total investment cost of the project stands at €85.4 million excluding borrowing costs.

Christophe Desplats-Redier, Neoen’s Regional Director, commented: “Hedet is a landmark project for Neoen, and the start of its commercial operations represents a major milestone for our business in Finland. We would like to express our gratitude to Google, the Närpes municipal authorities, our partner Prokon, our subcontractors and all the local stakeholders-the population of Overmark and Finnish operator EPV- which helped us bring this project through to its fruition.”

Xavier Barbaro, Neoen’s Chairman and CEO, added: “We are very proud to commission the Hedet wind farm, our first operating asset in Finland. As a long-term investor and operator, Neoen is contributing to the achievement of the country’s goal of being carbon-neutral by 2035.