Borenius advised Enefit Green on the divestment of Tolpanvaara Wind Farm to TD Greystone Infrastructure Fund and Rabbalshede Kraft AB

We advised Enefit Green, a renewable energy company indirectly owned by the Republic of Estonia, on the divestment of Tolpanvaara Wind Farm to TD Greystone Infrastructure Fund and Rabbalshede Kraft AB in a transaction valued of approximately EUR 83 million. The transaction allows Enefit Green to concentrate on its home markets – the Baltic states and Poland – where Enefit Green has a large production portfolio and a solid customer base.

Tolpanvaara is an onshore wind farm with an installed capacity of 76 MW and a grid export capacity of 72 MW located approximately 30 kilometres from Pudasjärvi on state-owned land managed by Metsähallitus. The project comprises 13 modern Nordex turbines, capable of generating nearly 250 GWh of renewable electricity annually. Enefit Green made the final investment decision in December 2021, and the wind farm was completed in spring 2024.

The buyer, TD Greystone Infrastructure Fund, is part of TD Asset Management – the asset management arm of one of Canada’s leading financial institutions. Rabbalshede Kraft AB, a renewable energy company headquartered in Sweden, will be managing Tolpanvaara on behalf of TD Greystone Infrastructure Fund.