16/03/2016

Krogerus advises Neste in an arrangement with Veolia and Borealis to build a new EUR 400 million power plant in Kilpilahti, Porvoo

Krogerus advised Neste in a joint project with Veolia and Borealis to arrange power plant operations and build a new power plant in Kilpilahti, located in Porvoo, Finland. 

In the arrangement, Neste will transfer its existing power plant to Kilpilahti Power Plant Ltd. The company will build a new combined heat and power plant in Porvoo to match the needs of Neste and Borealis. Neste and Veolia both own 40% of Kilpilahti Power Plant, while Borealis owns 20%.

The steam generation capacity of the new power plant is 450 MW and its electricity generation capacity is 30 MW. The total investment value of the power plant is approximately EUR 400 million. The plant, to be operated by Veolia, is scheduled for commissioning in 2018.

Neste is an oil refining and renewable solutions company whose shares trade on Nasdaq Helsinki. In 2015, Neste's net sales were approximately EUR 11 billion.

The Krogerus team, led by partner Mika Puittinen, primarily included counsel Marjukka Sippola, senior associates Pessi Honkasalo and Kalle Hynönen, associate Juho Jalo and knowledge manager Sami Järvinen.

Partner Leena Lindberg advised on competition law issues, partner Antti Lehtimaja on taxation and partner Sami Laine on environmental law. 

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