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Ilmatar Energy oy

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Finnish renewable energy company and Independent Power Producer developing onshore wind, solar power and energy storage in the Nordics.

Last updated September 15, 2026

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Overview

Ilmatar Energy oy is a Finnish energy company that describes itself as a leading Independent Power Producer (IPP) and renewable energy developer in the Nordics. It generates clean electricity from wind and sun and uses energy storage to support a more flexible energy ecosystem. The company was founded in 2011 by Kalle Pykälä and Mikko Toivanen, making it one of the first players in the sector in Finland. Its headquarters is in Helsinki, with offices in Tampere and Oulu, and it employs around 60 experts. Its activities include onshore wind power, solar power, energy storage, business development and power purchase agreements.

History

Ilmatar Energy oy is a Finnish energy company. Its name is borrowed from the goddess of air, Ilmatar, in the Finnish national epic Kalevala. The company began with wind power in 2011 and was founded by Kalle Pykälä and Mikko Toivanen, making it one of the first players in the sector in Finland. Its first project was launched at the end of 2011. Between 2012 and 2018, it developed its operations and shaped its role as the market evolved. In 2013, it became the first Finnish company to secure project financing for a wind power project without a parent company guarantee. In 2014, it established Ilmatar Service, and its collaboration with Électricité de France (EDF) on co-development projects in Finland began. In 2018, it partnered with Omnes Capital, leading to the creation of the joint venture Ilmatar Energy; the same year, it acquired the rights to the Piiparinmäki project from Metsähallitus. In 2019, it expanded its direction and moved beyond its previous role.

Products and positioning

Leading Independent Power Producer (IPP) and renewable energy developer in the Nordics.

Product categories. Onshore wind power · Solar power · Energy storage · Power Purchase Agreements

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