Lumituuli Oy is Finland’s first and largest consumer-owned wind power company. Founded in 1998, the company has built its business around a simple model: it produces wind electricity and sells it to its shareholders. According to its own description, the mission is to make participation in ecologically sustainable energy production, use and promotion possible. The company says it has more than 1,350 shareholders, mostly private individuals.
Lumituuli is based in Helsinki, Finland, while its registered home municipality is Lumijoki. Its wind assets are located in northern Finland, reflecting a clearly national footprint. The company operates two wind turbines: a 2 MW Vestas in Lumijoki and an 800 kW Enercon in Ii, both commissioned in 2014. The Lumijoki turbine replaced an earlier 660 kW machine installed in 1999 on the same site near Varjakka harbour. Lumituuli also notes that a portion of the electricity sold to shareholders comes from a 1 MW wind turbine in Larsmo, owned by Larsmo Vindkraft.
A notable feature of Lumituuli’s model is that it has financed and built its own turbines and is responsible for their operation. The company says it has raised nearly €6 million through share issues and debenture loans, with the remaining financing covered by bank loans. It paid back its remaining debenture loans in 2022. Lumituuli also holds the “Yhteiskunnallinen yritys” label from the Finnish Association for Social Enterprises, reflecting its decision to reinvest profits into wind power rather than distribute dividends.