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Press Release

White & Case Advises VALOREM on Sale and Financing of Wind Farms in Finland

Global law firm White & Case LLP has advised VALOREM, the French pioneering independent renewable energy developer and operator, on the divestment of the 165 MW Kalistanneva onshore wind farm to a Finnish consortium formed by HELEN Oy and the Bank of Åland Wind Power Fund Non-UCITS, and the simultaneous approximately €135 million project financing of the neighbouring 148.5 MW Matkussaari onshore wind farm, together with the negotiation and settlement of all related commercial arrangements.

"We worked closely with the Valorem team every step of the way to get this complex transaction across the line," said White & Case partner Carina Radford, who led the Firm's deal team. "Our multi-faceted role advising across each aspect of the transaction demonstrates White & Case's deep and broad knowledge of the renewable energy market in the Nordics, where we have decades of experience advising clients."

Both wind farms are located in the municipality of Kurikka, in the Ostrobothnia region of Finland, and are expected to commence commercial operations in 2025. The senior debt for the Matkussaari wind farm is being provided by AIP Management.

"This transaction showcases how our international teams across jurisdictions can seamlessly assist our clients on their most demanding projects, providing expertise in project financing, M&A and clean energy solutions," said White & Case partner Timo Airisto, a member of the Firm's deal team. "For HELEN Oy, which is owned by the City of Helsinki, this investment is also an important step towards its aim of being carbon neutral by 2030 and our client VALOREM played an integral role in advancing that ambition."

The White & Case team that advised on the transaction was led by partner Carina Radford (London) and included partners Mark Richardson, Sandra Rafferty and Richard Hill (all London), Tanja Törnkvist and Timo Airisto (both Helsinki), Florian Degenhardt (Hamburg) and François-Guilhem Vaissier and partner of counsel Paule Biensan (both Paris), counsel Beate Treibmann (Hamburg) and associates Miles Tonkin, Paddy Mohen, Nick Crawford, Sofia Lambert, Nick Falconer and Heidi Blomqvist (all London), Asta Tukiainen and Henna Viljakainen (both Helsinki) and Omar Sinaceur, Baptiste Ferraud and Alain Chan Hon (all Paris).

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