Highlight 15 November 2023

Krogerus advises Ilmatar Energy on a group level debt financing package of 500 million euros

Krogerus advised Ilmatar Energy on securing a milestone group level debt financing package of 500 million euros in a transaction led by Copenhagen Infrastructure Partners (CIP) through its Green Credit Fund 1 with participation from Kommunal Landspensjonskasse (KLP), P Capital Partners (PCP) and accounts managed by CIP. The package comprises a day one committed tranche of 325 million euros and an uncommitted increase option of 175 million euros.

The deal further accelerates the growth of Ilmatar’s renewable energy production and strengthens its position as the leading Nordic IPP. In line with company’s strategy, Ilmatar develops, constructs, owns and operates its renewable energy sites. With this financing from CIP, its co-investors and PCP, Ilmatar has secured more than one billion euros in equity and debt funding for its growth strategy over the past five years.

The Krogerus team was led by Partner Heidi Kivenjuuri and she was primarily assisted by Senior Associate Riina Toivonen-Vuong and Associates Elina Terho and Venla Nummela. Partner Samu Lassila advised on tax matters and he was mainly assisted by Associates Anniina Konttinen and Lauri Parvela. Partner Marko Vuori advised on corporate law matters and he was mainly assisted by Senior Associate Markus Laine and Associate Kalle Lipsanen. The due diligence was led by Partners Ville Hailikari and Sami Laine and they were mainly assisted by Senior Associates Laura Anttinen and Laura Äijälä and Associates Silja Piironen, Sonja Sivén, Anna Corrêa de Mora, Annaleena Hakala, Jenna Hallikainen, Teemu Huhtala, Ulla Jaatinen, Saara Kinnunen, Maria Lilius, Nelli Rönkkö and Ada Öhman.

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