Veritas invests in wind power

1.7.2020, News and press releases

Exilion Tuuli Ky, a renewable energy investor owned by Veritas, Elo and the State Pension Fund, is acquiring more investments in wind power. The company has signed a deal to purchase eleven wind farms and eight development projects from the energy company St1.

Exilion Tuuli already owns three wind farms and, with this purchase, becomes the largest domestic producer of wind power.

“The total annual production of our previous wind farms is 165 GWh. The production of the wind farms now being procured is so significant that in the future, our total annual production will exceed one terawatt hour (TWh). After closing the deal, our wind power production will account for one sixth of all wind power produced in Finland. We will be the most important player in the sector in the future,” says Pasi Valasjärvi, Investment Manager at Exilion Tuuli.

At Veritas, sustainability factors are taken into account in all investment decisions.

“As a pension company, we are looking far into the future and want to do our part in preventing climate change,” says Veritas’ CIO Kari Vatanen. “In infrastructure investments, we have favoured renewable energy and wind power.”

Closing the deal requires that normal conditions are met; Exilion Tuuli aims to close the deal during the last quarter of the year at latest. After the purchase, Exilion Tuuli will have 380 MW of clean, operational wind power capacity.

Read also:
Exilion: Renewable energy investor Exilion Tuuli Ky acquires 11 wind farms and eight development projects (1 July 2020)

Further information: CIO Kari Vatanen, tel. 040 554 3021,