Elo, Veritas and State fund launch renewables investment firm

Exilion Tuuli Ky, renewables investment firm launched by three Finnish pensions institutions yesterday, has some EUR 210m in its pocket for new wind farms. The company is actively seeking new investment opportunities in Finland.

Photo: Carsten Ingemann, Jyllands-Posten

Finland's pension insurance companies Elo, Veritas and State Pension Fund of Finland (VER), have jointly founded a new investment company focusing on renewable energy through their real estate co-enterprise Exilion Management. The three pension funds say in a press statement that the new company, Exilion Tuuli Ky, plans to invest some EUR 300m in renewable energy.

Exilion Tuuli Ky currently owns three wind farms, and the combined value of its investments is approximately EUR 90m. In addition to the existing wind farms, Exilion Tuuli Ky is already planning to invest an additional EUR 210m in new wind farms that are already operational or under construction, as well as in different renewable energy projects. The company is actively searching for new investments related to wind power and renewable forms of energy in Finland.

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