Conquest Acquires 182 MW Onshore Wind Portfolio from BHM Renewables

Conquest, fund manager focused on energy transition infrastructure in Europe, through its Conquest Infrastructure SLP – Sustainable 2 fund, has completed the simultaneous acquisitions of two wind farms developed by Winda Energy, the Finnish energy developer renewable majority owned by BHM Renewables, which is part of the BHM group.

The two onshore wind projects form a combined capacity of 182 MW. The cooperation also includes other onshore wind projects totaling 500 MW.

The transaction allows Conquest to strengthen its renewable energy platform and its presence in the Scandinavian market, while maintaining a balanced and diversified approach to investments targeted at the energy transition in Europe. The operation represents a total phased investment of around one billion euros, which will be gradually rolled out between 2024 and 2028, providing a fully green investment in one of Europe's most stable and robust economies.

The first two wind projects are at an advanced stage of development, with construction of the first 182 MW expected to begin in the fourth quarter of 2024, with construction of the remaining capacity expected in the fourth quarter of 2025. Winda Energy Oy will complete the development and will manage construction, with the portfolio in commercial operation expected between 2026 and 2028.

Frederic Palanque, Founder and Managing Director of Conquest, said: “Conquest is delighted to enter, alongside Winda Energy, sustainable real assets in a market recognized for its strong renewable energy fundamentals and ambitious portfolio 'Net Zero' road.

“We are pleased to cooperate with Conquest, a dynamic and reliable partner in our growth journey. The transaction ensures the completion of some of our flagship projects over the coming years, which will allow us to expand our contribution to Finland's green energy transition,” says Tuomas Hooli, CEO of Winda Energy.

Michal Prause, associate partner, BHM Renewables, says: “We are extremely pleased with the outcome of the transaction, which reflects the strong development skills that our subsidiary Winda has demonstrated in the Finnish renewable energy market over the years. We look forward to this strategic partnership with Conquest’s highly professional asset management and investment teams."