The total transaction will cost BlackRock about 7.1 billion crowns. It will pay 1.5 billion for wind farms and invest another 5.6 billion crowns in construction, which will continue to be in charge of developer Winda Energy.
“Our strategy is to focus on the development and construction phase, where the greatest added value is created. The money raised means the possibility of accelerating other projects, both in Finland and in the Baltics, “he said of the reasons for the sale of Doucha, adding that it would be premature to communicate details.
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So far, the fund has managed to complete four wind turbines with a total output of about twenty megawatts. The remaining 200 megawatts are to be completed by the beginning of 2023. The developer has already obtained permission for all of them. Unlike the first park, however, the owner does not receive operating support.
For BlackRock, the transaction is the first acquisition of wind farms in Finland. The E15 newspaper failed to obtain the company’s comments.
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Green Horizon Renewables is an investment company engaged in investments in renewable energy sources, in which the majority is owned by Krsk’s BHM group and a minority stake in Verdi Capital, entrepreneur Kateřina Zychová. Green Horizon Renewables owns only a three-quarters of the wind projects themselves, with Finnish minority shareholders holding the rest.
Krsek, the former co-owner of Škoda Transportation, is one of the richest Czechs. E15 Premium magazine estimated its assets at about five billion.
Finland is considered one of the leaders in the field of renewable energy among the countries of the European Union. More than forty percent of the electricity consumed there comes from renewable sources, and by 2030, a third of the consumption is to be covered by windmills.
In the Czech Republic, the wind power sector is stagnating. The installed capacity last year, as in 2019, remained at 340 megawatts. They provide energy that is still below one percent of total electricity produced. In the coming years, this could be changed by operating aid, for which investors will compete in auctions. However, the amendment on supported resources set by the auction system must be approved by the Chamber of Deputies after the return from the Senate.
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