Green Horizon Renewables has sold its portfolio of Finnish wind farms to BlackRock for approximately 7.1 billion Czech korunas to focus on future development projects.

Information on the Target

Green Horizon Renewables, an investment firm led by entrepreneur Tomáš Krsek, has successfully completed a substantial transaction by selling its portfolio of operational and planned wind farms to the American investment giant, BlackRock. The total deal is valued at approximately 7.1 billion Czech korunas, which includes 1.5 billion for the existing wind farms and an additional 5.6 billion allocated for future development. Robert Doucha, the fund manager, confirmed the details to E15, emphasizing the firm’s focus on the development and construction phases where maximum value is created.

Currently, Green Horizon Renewables has finalized the installation of four wind turbines with a combined capacity of around 20 megawatts, with plans to complete an additional 200 megawatts by early 2023. All necessary permits have been secured for the remaining projects. However, unlike the initial phase, the new owner will not receive operational support.

Industry Overview in Finland

Finland is recognized as a leader in renewable energy within the European Union, with over 40% of its electricity consumption coming from renewable sources. The country has made significant strides in wind energy