Krogerus advised Ilmatar Energy on the landmark transaction including sale of 211 MW onshore wind farm, Piiparinmaki, to Glennmont Partners. The construction of the project will start in October 2019 and, once completed, it will be the largest wind farm in Finland and one of the largest unsubsidised wind farms in Europe, including a long-term power purchase agreement (PPA) with Google.
The project will be powered by 41 Vestas wind turbines and Ilmatar Energy will provide the civil construction works and construction management services for the project on turnkey basis. Once completed Ilmatar Energy will continue to manage the technical and commercial operations of the wind farm. DekaBank Deutsche Girozentrale is providing project finance for the project.
Ilmatar Energy is a joint venture between Ilmatar Windpower Plc and Capenergie 3, a fund managed by Omnes Capital.
The Krogerus team, led by partner Ville Hailikari, includes partners Sami Laine, counsel Essi Launonen and associate Jani-Pekka Jussila. Partner Heidi Kivenjuuri led the advice on financing matters and senior associate Sanna Lindqvist advised on tax matters.