Press Releases

Renewable Power Capital 10-year wind energy deal with Gasum builds renewable investment momentum in Finland

  • Gasum has signed a ten-year power purchase agreement with Renewable Power Capital (RPC) to buy the majority of the output from the 44MW Rustari onshore wind farm.
  • The 8-turbine wind farm will be operational in early 2023 and will begin delivering electricity to Gasum later that year.
  • The deal is the third signed this year in the region by RPC, and expands Gasum’s renewable  electricity offering.

Gasum will off-take power from RPC’s Rustari wind farm in a decade-long power purchase agreement. The Rustari wind farm is located in the municipality of Kurikka, in the Southern Ostrobothnian region of Finland. It contains 8 turbines with a rated power of 44MW, the majority of which will be purchased by Gasum. 

For Gasum, this deal will provide secure, long-term capacity to offer their electricity customers renewable energy. It represents part of their broader sustainability strategy for promoting a carbon-neutral future.

The deal is the third wind energy PPA signed by RPC in the region this year and represents the growing presence of RPC in the Nordic region as part of their Europe-wide strategy. RPC commenced construction on the project & secured construction financing prior to the PPA, demonstrating their deep capability to drive forward renewable projects and invest unlevered and unhedged. RPC is pleased to have secured the collaboration of an established expert in Nordic energy markets.

“This deal allows us to continue to contribute to the growth of reliable wind energy in Finland, delivering cleaner, greener electricity to its households and businesses. Long-term partnerships with market experts like Gasum are a key part of our strategy to accelerate Europe’s decarbonisation journey.”, says Bob Psaradellis, CEO of RPC.

With this agreement we continue building our portfolio of renewable wind power to support our customers with cleaner energy solutions. By increasing the volume with renewable wind power, we will continue helping our customers finding the best energy mix to reduce emissions.”, says Anders Malm, SVP Portfolio Management & Trading 

Notes to Editors

RPC, Lizzy Roberts: 07814730090 

Anders Malm, Senior Vice President, Portfolio Management and Trading
Tel. +46 70 450 1627

Renewable Power Capital

Renewable Power Capital is a pan-European renewable energy investment platform established in 2020, backed by CPP Investments. Renewable Power Capital is registered in the United Kingdom, with headquarters in London. We invest in the development, construction, and long-term ownership of solar, onshore wind and battery storage projects, enabling the energy transition and driving stable long-term, risk-adjusted returns. Our flexible mandate allows us to structure investments that recognise the changing market dynamics in Europe and to develop innovate solutions for managing development, construction, and merchant investments.

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Gasum is an expert in the Nordic gas and energy markets. We offer cleaner energy and expert services in the energy market for the needs of industrial and combined heat and power, as well as cleaner fuel solutions for road and maritime transport. We help our customers reduce their own carbon footprint as well as their customers’ carbon footprint. Together with our partners, we are promoting progress towards a carbon-neutral future, both on land and at sea. 

The Gasum Group has approximately 380 employees in Finland, Norway, Sweden and Germany. Gasum is a company owned by the Finnish state.

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