YIT Oyj

11/15/2019 | Press release | Distributed by Public on 11/14/2019 23:03

YIT has sold its first self-developed wind power project

YIT has sold its first self-developed wind power project to Suomen Hyötytuuli Oy. The subject of the transaction is the Peuralinna wind power project in the municipality of Kyyjärvi. The project consists of seven wind turbines with a total capacity of approximately 45 MW. The project is sold complete with the required permits.

'Peuralinna is a good investment for Hyötytuuli. Together with our adjacent wind farm project of the same size in Alajoki, they enable efficient construction and wind power production in the area,' says Toni Sulameri, Managing Director of Suomen Hyötytuuli Oy.

YIT has previously built more than 100 foundations for wind turbines as well as other infrastructure, such as road construction, in connection with wind power plants in Finland and Sweden. YIT also has other wind power projects under development corresponding to approximately 100 wind turbines.

The development of wind power is a good fit with YIT's long-term climate targets, which are to halve the CO2 emissions arising from the Group's own operations and YIT's self-developed projects by 2030, using 2019 as the baseline; to strive to build properties that are carbon neutral during self-developed projects; and to start to report property-specific CO2 indicators for self-developed projects from 2020 onwards.

'The Peuralinna project is one of the first wind power development projects started by YIT and reaching an agreement on its sale represents a significant step in our wind power business. YIT developes and acquires the required permits for other self-developed wind power projects to get them also close to the selling stage. Acquiring the required permits is yet time demanding', says Mika Virtanen, Vice President of Industry, Energy and Water Supply at YIT.

Suomen Hyötytuuli is a wind power production company whose shareholders are major Finnish city energy companies.

For further information, please contact:

Mika Virtanen, Vice President, Industry, Energy and Water Supply, tel. +358 50 372 8049, [email protected]

Pirita Tiusanen, Communications Manager, YIT Corporation, tel. +358 44 240 9822, [email protected]

YIT is the largest Finnish and significant North European construction company. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers, our nearly 10,000 professionals are creating more functional, attractive and sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, Baltic Countries, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our restated pro forma revenue for 2018 was approximately EUR 3.2 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com