A district court in Finland accepted a voluntary petition of bankruptcy by the company and appointed lawyer Pauliina Tenhunen as administrator.
She will now have to look at whether the company can remain operational or seek buyers for its assets.
A statement from WinWind said 130 staff in Finland and Sweden are affected.
It added: “WinWind has been incurring heavy losses for the past several years and the company's debts are currently close to €300m ($405m).
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