References/22 Dec 2023

Borenius advised Encavis on the acquisition of the Illevaara Wind Farm from ABO Wind

We advised Encavis on the acquisition of the Illevaara wind farm from ABO Wind. The 30-MW Illevaara wind farm encompasses five wind turbines, and it is located in the Kainuu region of Finland. The wind farm is already connected to the grid, and it is expected to generate around 98 GWh of electricity annually. The electricity will be sold to a corporate offtaker via a pay-as-produced power purchase agreement (PPA) with a term of 10 years from October 2024.

Encavis AG is a producer of electricity from renewable energy sources that is listed on the MDAX of Deutsche Börse AG. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates (onshore) wind farms and solar parks in twelve European countries. The plants for sustainable energy production generate stable yields through guaranteed feed-in tariffs (FIT) or long-term PPAs.

The Encavis Group’s total generation capacity currently adds up to around 3.6 GW, of which around 2.2 GW is generated by Encavis AG, corresponding to a total reduction of around 0.8 million tonnes of CO2 per year for Encavis AG alone. In addition, the Group currently has approximately 1.1 GW of capacity under construction, of which around 690 MW are its own assets.

ABO Wind successfully develops and builds wind and solar farms as well as battery storage and hydrogen projects. Established in 1996, the Germany-based Company has realised more than 5,000 MW of capacity to date and has also constructed half of them. The Company’s annual investment amounts to EUR 500 million. ABO Wind has more than 1,000 employees in 16 countries, who work with enthusiasm on the planning, financing, construction, operational management, and maintenance of plants for a sustainable energy supply.

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Service areas

Team

Christian Fogelholm

Partner

Helsinki

Emma Niemistö

Partner

Helsinki

Einari Karhu

Partner

Helsinki

Kiira Björkroth

Counsel

Helsinki

Iida Mäkimattila

Senior Associate

Helsinki

Anna-Riikka Nummi

Senior Associate

Helsinki

Emma Siitonen

Senior Associate

Helsinki

Jill Winter

Senior Associate

Helsinki