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9 June 20213 minute read

DLA Piper advises lender on financing of wind farm portfolio in Finland

DLA Piper has advised Kommunalkredit Austria AG as lender to Renewable Power Capital (RPC) in the financing of a portfolio of three on-shore wind farms with a total capacity of 154 MW in Finland, known as Merkkikallio, Puutikankangas and Rustari.

The projects will comprise 28 turbines in total, supplied by GE Energy (Finland) Oy, and mark a key milestone in the future of project financing for on-shore wind as a large-scale, fully merchant financing.

The DLA Piper team was led by partners Natasha Luther-Jones and Fredrik Lindblom in London, and partner Antti Niemi in Finland.

Commenting on the deal, Global Co-Chair of Energy and Natural Resources Natasha Luther-Jones, said: “We are delighted to have advised Kommunalkredit again, this time on RPC’s first project, and to be involved in construction financing of large-scale on-shore wind farms on a fully merchant basis.” Antti Niemi added “This is a significant deal in the Finnish and European renewable energy markets, and another great mandate for DLA Piper in the Nordics.”

Other team members included: of counsel Bruce Chen (Finance and Projects, London); senior associate Rob Cockburn (Finance and Projects, Leeds); senior associate Jennifer Keogh (Finance and Projects, Leeds); associate Charlotte Eliades (Finance and Projects, London); senior associate Vilma Nuutinen (Finance and Projects, Helsinki); and associate Tiia Mäki (Finance and Projects, Helsinki).

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