OX2’s €650 Million Construction And Divestment of 455.4 MW Wind Farm in Lestijärvi

Castrén & Snellman advised OP Corporate Bank, Nordea and SEB on the deal. Hannes Snellman, Cirio and Borenius advised OX2. Roschier advised the buyer consortium in the transaction.

OX2 has signed an agreement to construct and divest a 455 MW wind farm in Lestijärvi, Finland, for about 650 million euro (ca SEK 6.5 billion) including an agreement for technical and commercial management. Construction will start immediately.

The buyer is a consortium of Finnish energy companies, Kymppivoima Oy (65%), Oulun Energia (25%) and Kuopion Energia (10%).

As part of the agreement OX2 will construct the wind farm under a tailored fixed price agreement. Once commissioned, OX2 will be responsible for the technical and commercial management of the project under a 15-year agreement, optimizing the production and supervising its safe operations.

OX2 will also construct a significant grid infrastructure to connect the wind farm, including substation and a 58 kilometers 400 kV transmission line.

Including the wind farm in Lestijärvi OX2 has started construction of 716 MW of wind power during 2021. OX2 currently has 1,356 MW of wind power under construction. 

The Castrén & Snellman team included Sakari Lukinmaa (Picture), Mariella Både-Landell, Laura Sundström, Elias Tuomainen, Miika Pinomaa and Sanna-Mari Seppälä.

The Hannes Snellman team included Maria Landtman, Katja Perätalo, Carolina Lefort Ahokanto, and Emmi Nuutila.

The Borenius team included Christian Fogelholm, Marius af Schultén, Iida Mäkimattila, Simon Ekman, Einari Karhu, Sampo Viding and Ben Fallström.

Roschier’s core advisory team comprised Toni Siimes, Rene Male, Iida Salonen, Tuure Leponiemi, Jonne Järvi, Lauri Saari and Miia-Mari Kasi.

Cirio’s team has comprised of Jörgen Möller, Fredrik Morfeldt, Maria Hanbo, Erik Engström, Christoffer Isaksson, Ina Laurell and Niklas Sinander.

Involved fees earner: Marius af Schultén – Borenius Attorneys Ltd; Simon Ekman – Borenius Attorneys Ltd; Ben Fallström – Borenius Attorneys Ltd; Christian Fogelholm – Borenius Attorneys Ltd; Einari Karhu – Borenius Attorneys Ltd; Iida Mäkimattila – Borenius Attorneys Ltd; Sampo Viding – Borenius Attorneys Ltd; Sakari Lukinmaa – Castrén & Snellman; Miika Pinomaa – Castrén & Snellman; Sanna-Mari Seppälä – Castrén & Snellman; Laura Sundström – Castrén & Snellman; Erik Engström – Cirio Law Firm; Maria Hanbo – Cirio Law Firm; Christoffer Isaksson – Cirio Law Firm; Ina Laurell – Cirio Law Firm; Jörgen Möller – Cirio Law Firm; Fredrik Morfeldt – Cirio Law Firm; Niklas Sinander – Cirio Law Firm; Maria Landtman – Hannes Snellman; Carolina Lefort Ahokanto – Hannes Snellman; Katja Perätalo – Hannes Snellman; Iida Salonen – Krogerus Attorneys Ltd; Jonne Järvi – Roschier; Miia-Mari Kasi – Roschier; Tuure Leponiemi – Roschier; Rene Male – Roschier; Lauri Saari – Roschier; Toni Siimes – Roschier;

Law Firms: Borenius Attorneys Ltd; Castrén & Snellman; Cirio Law Firm; Hannes Snellman; Krogerus Attorneys Ltd; Roschier;

Clients: Kymppivoima Oy; Nordea Bank AB; OP Corporate Bank plc; OX2 AB; SEB;

Federica Tiefenthaler

Author: Federica Tiefenthaler