Interview with investment director Ingmar Helmke at Aquila Capital

Aquila Capital has rapidly become one of the most active renewable infrastructure investors in the Nordic countries. The first acquisition agreement with OX2 was signed in 2016, and since then the companies have collaborated on around 660 MW of wind power.


Maevaara wind farm (105 MW) in Sweden. Owner: Allianz.

Interview with investment director Ingmar Helmke at Aquila Capital

Maevaara wind farm (105 MW) in Sweden. Owner: Allianz.

Aquila Capital has rapidly become one of the most active renewable infrastructure investors in the Nordic countries. The first acquisition agreement with OX2 was signed in 2016, and since then the companies have collaborated on around 660 MW of wind power.


Ingmar Helmke,
Investment director at Aquila Capital

Aquila Capital designs and manages sustainable investments for institutional investors. Since the firm’s inception, Aquila Capital has invested in over EUR 5.2 bn in renewables energy assets and created one of Europe’s largest independent renewable energy portfolios with a total of 3.7 GW generating capacity.

“On a global basis we invest in those places where renewable energy can compete on market terms. It is not about hunting for the most profitable subvention system, but the costs must be competitive,” says Ingmar Helmke.

To date, Aquila Capital has invested in nine wind power projects (approx. 1,067 MW) in the Nordic region, five of which have been with OX2. They regard the Nordic region as their most important market.

“We like the Nordic region for several reasons. The Nordic countries are stable, with good wind power and they have a mature market with very professional developers, consultants and banks”.

In 2018, OX2 completed and handed three projects over to Aquila: Lehtirova wind farm, (148 MW) and Högkölen wind farm (68.4 MW) in Sweden, as well as the Yxpila wind farm (14.4 MW) in Finland. Project Valhalla (366 MW), one of Europe’s largest on-shore wind farms, is still under construction and is expected to come on line in the spring of 2020.

“The cooperation with OX2 can be seen in the good relationship and trust that we have built up together. We truly appreciate the high-quality standards at OX2 and the professionalism and dedication of the OX2 team. This in combination of the team’s deep understanding for investors’ and financing institutions needs and the cooperative spirit, make OX2 a valuable and much appreciated business partner for Aquila”.

Helmke believes that the Nordic market has more to give, because costs are still falling and there is high demand.

“We are constantly looking for new and attractive investment opportunities in the Nordic region and are looking forward to doing more business with OX2.”

Ingmar Helmke,
Investment director at Aquila Capital

Aquila Capital designs and manages sustainable investments for institutional investors. Since the firm’s inception, Aquila Capital has invested in over EUR 5.2 bn in renewables energy assets and created one of Europe’s largest independent renewable energy portfolios with a total of 3.7 GW generating capacity.

“On a global basis we invest in those places where renewable energy can compete on market terms. It is not about hunting for the most profitable subvention system, but the costs must be competitive,” says Ingmar Helmke.

To date, Aquila Capital has invested in nine wind power projects (approx. 1,067 MW) in the Nordic region, five of which have been with OX2. They regard the Nordic region as their most important market.

“We like the Nordic region for several reasons. The Nordic countries are stable, with good wind power and they have a mature market with very professional developers, consultants and banks”.

In 2018, OX2 completed and handed three projects over to Aquila: Lehtirova wind farm, (148 MW) and Högkölen wind farm (68.4 MW) in Sweden, as well as the Yxpila wind farm (14.4 MW) in Finland. Project Valhalla (366 MW), one of Europe’s largest on-shore wind farms, is still under construction and is expected to come on line in the spring of 2020.

“The cooperation with OX2 can be seen in the good relationship and trust that we have built up together. We truly appreciate the high-quality standards at OX2 and the professionalism and dedication of the OX2 team. This in combination of the team’s deep understanding for investors’ and financing institutions needs and the cooperative spirit, make OX2 a valuable and much appreciated business partner for Aquila”.

Helmke believes that the Nordic market has more to give, because costs are still falling and there is high demand.

“We are constantly looking for new and attractive investment opportunities in the Nordic region and are looking forward to doing more business with OX2.”

“We truly appreciate the high-quality standards and the dedication at OX2.” Ingmar Helmke at Aquila Capital