DLA Piper Advised Santander Corporate & Investment Banking On Record EUR600 Million Finnish Wind Farm Financing

DLA Piper advised Santander Corporate & Investment Banking on record EUR600 million Finnish wind farm financing

DLA Piper advised Santander Corporate & Investment Banking, as sole Underwriter, Bookrunner and Original Hedging Bank, on the EUR600 million long-term construction financing of the Rajamäenkylä and Honkakangas onshore wind farms in Finland. The financing marks the largest onshore wind deal to-date in the Finnish market, with a combined capacity of 472 MW.

Owned by OX2, with turbines supplied by Nordex, both projects are backed by long-term power purchase agreements (PPAs) with a multinational corporate offtaker. Once completed, the wind farms are expected to generate approximately 1.6 TWh of renewable energy annually, contributing significantly to Finland’s energy transition. The Rajamäenkylä wind farm is expected to be completed in 2028 and Honkakangas in 2027, with a total investment exceeding EUR700 million.

The DLA Piper team was led by Fredrik Lindblom (Partner), with support from Antti Niemi (Partner, Helsinki), Rubayet Choudhury (Partner, UK), Charlotte Eliades (Senior Associate, London), Mark Valenzia (Legal Director, London), Jacques Camilleri (Senior Associate, Edinburgh), Salesh Premjith (Associate, London), and Panu Punkari (Associate, Helsinki).

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