The Finnish renewable developer Ilmatar has secured a €20m funding from Finland’s Ministry of Economic Affairs and Employment for a 366 MW hybrid wind and solar project located in Alajärvi in the South Ostrobothnia region (central Finland).
The grant was awarded to facilitate the addition of a 150 MW solar park and a 25 MW/50 MWh battery in the immediate vicinity of a 216 MW wind park that Ilmatar has already started building. The wind park is being constructed under market conditions and without subsidies with an investment of €217m, while the solar project is expected to cost a total of €98m. The planning phase for the project will start in 2023.
Ilmatar’s hybrid project is one of six clean energy projects that were awarded a total of €100m by the Ministry of Economic Affairs and Employment under Finland’s Recovery and Resilience Plan.