United Bankers' UB Renewable Energy Fund acquires Korpilevonmäki Wind Farm in Southwest Finland

United Bankers Plc
PRESS RELEASE 31 March 2025 at 14:00 EEST

United Bankers' UB Renewable Energy Fund acquires Korpilevonmäki Wind Farm in Southwest Finland

United Bankers’ renewable energy fund, UB Renewable Energy and energy company Ilmatar have signed an agreement on the acquisition of the Korpilevonmäki wind farm located in Säkylä, Southwest Finland. UB Renewable Energy Fund will initially acquire a 40% stake in the wind farm, followed by the acquisition of a 60% stake subject to certain contractual conditions.

UB Renewable Energy sees the Korpilevonmäki project as an important part of the development of its renewable energy portfolio. "The acquisition of the Korpilevonmäki wind farm is a significant step for UB Renewable Energy. The acquisition of the wind farm was motivated by Ilmatar's ability to develop and build high-quality projects, as well as their commitment to operating the wind farm," sums up Tapio Nuotio, Portfolio Manager of the UB Renewable Energy Fund.

"United Bankers is a new strategic partner for us. Ilmatar will continue to operate the wind farm, even though ownership will transfer to United Bankers' renewable energy fund. Their involvement in the project strengthens our partnership network and creates opportunities to expand cooperation in future renewable energy projects," says Juha-Pekka Weckström, CEO of Ilmatar.

The total capacity of the Korpilevonmäki wind farm is 38.4 MW. The wind farm is Ilmatar's newest wind farm and consists of six turbines. Ilmatar has signed a ten-year power purchase agreement (PPA) with Mondelēz International for the renewable electricity produced at Korpilevonmäki.

Commercial electricity production at the Korpilevonmäki wind farm began in early March 2025. The farm is estimated to produce a total of 125 gigawatt hours (GWh) of renewable energy annually, which corresponds to the electricity consumption of approximately 50,000 apartments or over 6,200 detached houses.

Additional information:

United Bankers
Tapio Nuotio, Portfolio Manager, UB Renewable Energy
Email: tapio.nuotio@unitedbankers.fi

Ilmatar
Jenny Söderman, Director, M&A, Investments
Email: jenny.soderman@ilmatar.com

United Bankers in brief:

United Bankers Plc is a Finnish expert on wealth management and investment markets, established in 1986. United Bankers Group’s business segments include wealth management and capital markets services. In asset management, the Group specialises in real asset investments. United Bankers Plc is majority-owned by its key personnel and the Group employs 161 employees (FTE) and 25 agents (31 December 2024). In 2024, the United Bankers Group’s revenue totalled EUR 62.1 million and its adjusted operating profit amounted to EUR 23.7 million. The Group’s assets under management amount to approximately EUR 4.8 billion (31 December 2024). United Bankers Plc’s shares are listed on Nasdaq Helsinki Ltd. The Group companies are subject to the Finnish Financial Supervisory Authority’s supervision. For further information on United Bankers Group, please visit unitedbankers.fi.

Ilmatar in brief:

Ilmatar is a leading Independent Power Producer (IPP) and renewable energy developer in the Nordics. We generate clean electricity sustainably and efficiently from natural sources, wind and sun. With energy storage, we enhance a more flexible energy ecosystem. Our extensive portfolio spans over 12 GW in Finland and Sweden, where we develop, own and operate a diverse range of wind and solar energy production facilities throughout their operational lifetimes. Headquartered in Helsinki, we employ approximately 70 top experts who enhance the clean transition.  

Ilmatar – Changing society. With Nordic renewable energy.  ilmatar.com

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