Fortum and Helen inaugurate 380MW Pjelax wind farm in Finland [Yahoo! Finance]
FORTUM OYJ CP UNSP/ADR (FOJCY)
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Source: Yahoo! Finance
Pjelax, located in the Närpiö and Kristiinankaupunki areas, is set to produce more than 1 terawatt hour (TWh) of wind power annually - 5% of Finland's total wind power production. The 56 turbine wind farm is a joint venture between Helen, which owns 40%, and Fortum, which owns 60%. Helen has agreed to purchase 50% of the wind farm's electricity output for its entire operational lifespan. Fortum president and CEO Markus Rauramo stated: “With 380MW, Pjelax will double the wind power capacity operated by Fortum. Wind power plays an important role alongside the rest of our emission-free power generation. “In line with our strategy, we provide clean electricity in the Nordic countries and help in electrifying industry to reduce its emissions. Pjelax is a prime example of how Fortum helps its customers reduce their carbon dioxide emissions.” Helen CEO Olli Sirkka stated: “The Pjelax wind farm is a significant joint effort by Helen and Fortum to increase renewable electricity prod
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