Highlight 13 January 2022

Krogerus advises Helen on the investment into two large-scale wind power development projects in Ostrobothnia

Krogerus advised Helen on the acquisition of a minority stake in two ready-to-build wind power development projects, Pjelax-Böle and Kristinestad Norr, from Fortum. The projects comprise in total 56 wind turbines with an estimated annual electricity production of approximately 1.1 TWh, which equals almost a quarter of the entire electricity consumption of Helsinki capital area. Helen will purchase approximately a half of the projects' electricity production pursuant to a long-term PPA negotiated in connection with the transaction.

The projects will be realised in co-operation between Fortum and Helen. Fortum’s share of the projects is 60 percent and Helen’s 40 percent and the estimated investment costs are approximately 360 MEUR. Construction will begin in January 2022 and the projects are expected to be operational at the latest during Q2/2024. Once completed the projects will be among the three largest on-shore wind farms in Finland.

The Krogerus team was led by Partner Ville Hailikari and included Partner Sami Laine, Counsel Essi Launonen, Senior Associate Anna Talvitie and Associates Linda Härkönen, Janne Helaskoski, Sonja Sivén and Silja Piironen. Partner Katri Joenpolvi and Senior Counsel Petteri Metsä-Tokila advised on competition law related matters.

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