Neoen has announced the signature of financing for Hedet, an 81 MW wind farm in Finland, in which it will hold an 80% stake, alongside Prokon Finland which will hold the remaining 20%. KfW Ipex and SEB will provide a total of €66.5 million (US$75 million) in senior debt to the project.
Hedet is located in Närpes, in the west of Finland. The wind farm will consist of 18 Nordex N149 turbines, with capacity of 4.5 MW each, and is currently under construction. Total investment in the project is estimated at €85.4 million (US$97 million) excluding financing costs.
Google will purchase the output of the wind farm to match the consumption of its Finnish data center with renewable energy from the same grid they draw their power, under a Power Purchase Agreement lasting 10 years.
Voltiq acted as financial adviser to the company, alongside White & Case LLP and Borenius who acted as legal advisers to the company for the financing of this project. Norton Rose Fullbright LLP, for international legal aspects, and Krogerus, for local legal aspects, acted as advisers to the lenders.
Country updates
-
-
January 30, 2019
Genie Energy completes purchase of Lumo Energia
Genie Energy Ltd has completed the purchase of the majority and controlling stakes in Lumo Energia, a rapidly growing provider of electricity generated from renewable sources to residential custo...
Read more -
January 18, 2019
NTR acquires 200 MW wind portfolio in Sweden and Finland
NTR has announced that its Renewable Energy Income Fund II has acquired a portfolio of just over 200 MW of operational and pre-construction onshore wind projects in Sweden and Finland.
Read more -
November 20, 2018
Energiequelle starts buildings zero-subsidy wind farm in Finland
German renewables developer Energiequelle GmbH has kicked off construction of a 21.5-MW subsidy-free wind farm in Finland, its first wind project in the Nordic country. The so-called Paltusmaki wind...
Read more -
November 15, 2018
Valmet to supply a biomass-fired boiler plant to Elenia Lämpö's Vanaja power plant in Hämeenlinna, Finland
Valmet will supply a biomass-fired boiler plant to Elenia Lämpö Oy's Vanaja power plant in Hämeenlinna, Finland. The investment will enable the company to raise the share of renewab...
Read more -
November 15, 2018
Gasum awards EPCM contract to Pöyry for its Topinoja biogas plant expansion project
Gasum Ltd has awarded Pöyry with the engineering, procurement and construction management (EPCM) services assignment for Topinoja biogas plant expansion project in Turku, Finland. The work will b...
Read more
