Kansai Electric Power Co., Inc.’s Minority Stake Acquisition In Louhukangas And Möksy Wind Projects

Krogerus advised Ilmatar Energy on the deal.

Acting as sole arranger and lender, DekaBank has provided loans totalling some EUR 145 million for the construction and operation of the “Louhukangas” and “Möksy” onshore wind farms in Finland.

These two wind farm projects are being carried out by the Finnish renewable energy company Ilmatar Energy and the Japanese leading utility company The Kansai Electric Power Co., Inc.

The wind farms will be built in central Finland and will encompass 36 wind turbines with a total nominal capacity of 216MW. Commercial operations are targeted to begin at the end of 2023.

DekaBank is the Wertpapierhaus (securities services provider) of the German Savings Banks Finance Group. Together with its subsidiaries it forms Deka Group, which has total customer assets of around EUR 368 billion (as at 30/06/2021) and more than 5 million securities accounts, making it one of the largest securities services providers and real estate asset managers in Germany.

Ilmatar Energy is a Finnish energy company that exclusively produces renewable energy and operates at every single stage of wind power production.

The Kansai Electric Power Co., Inc., based in Osaka, Japan, is the leading utility established in May 1951 with a track record of innovation and leadership in the industry. The company owns and operates over 167 power plants with a total capacity of 31GW including thermal, hydro, nuclear and renewables in Japan.

The Krogerus transaction and due diligence team was led by Partners Ville Hailikari (Picture), Mika Ståhlberg and Sami Laine and they were mainly assisted by Senior Associates Anna Metso and Vilja Virta, Counsel Essi Launonen and Associates Linda Härkönen, Jani-Pekka Jussila, Sonja Sivén, Mia Rindell and Maria Lilius. The Krogerus financing team was led by Partner Heidi Kivenjuuri and she was primarily assisted by Associates Hanna Kim and Risto Mynttinen.

Involved fees earner: Ville Hailikari – Krogerus Attorneys Ltd; Linda Härkönen – Krogerus Attorneys Ltd; Jani-Pekka Jussila – Krogerus Attorneys Ltd; Hanna Kim – Krogerus Attorneys Ltd; Heidi Kivenjuuri – Krogerus Attorneys Ltd; Sami Laine – Krogerus Attorneys Ltd; Essi Launonen – Krogerus Attorneys Ltd; Maria Lilius – Krogerus Attorneys Ltd; Anna Metso – Krogerus Attorneys Ltd; Risto Mynttinen – Krogerus Attorneys Ltd; Mia Rindell – Krogerus Attorneys Ltd; Sonja Sivén – Krogerus Attorneys Ltd; Mika Ståhlberg – Krogerus Attorneys Ltd; Vilja Virta – Krogerus Attorneys Ltd;

Law Firms: Krogerus Attorneys Ltd;

Clients: Ilmatar Energy;

Federica Tiefenthaler

Author: Federica Tiefenthaler