UPM etablishes wind power development company in Finland

HELSINKI, March 9, 2011 (Press Release) - UPM in cooperation with TuuliSaimaa Oy has established a wind power development company VentusVis Oy. In the starting phase, the operations focus on developing land areas, which are leased from UPM, for wind power production. The development work includes evaluation of the land suitability, permitting process and preparation for possible wind power construction projects and wind power production.

"UPM's land assets in Finland include several areas that could be suitable for wind power production. Our target is to study the circumstances in more detail and develop the areas that are suitable for wind power production," says Anja Silvennoinen, Senior Vice President for UPM Energy Business Area.

"For TuuliSaimaa, VentusVis provides an opportunity to proceed towards its targets and strengthens the company's position and know-how. TuuliSaimaa brings to the cooperation the operative management and wind power expertise. We are currently looking for new people to join our team," says Petteri Laaksonen, Doctor of Science, Managing Director of VentusVis, who also continues as the Managing Director of TuuliSaimaa.