Energy & Infrastructure, Environment & Natural Resources / 22 Oct 2019

Borenius advised Neoen on the acquisition of the 250 MW Mutkalampi wind farm and the joint venture regarding the wind farm

We advised Neoen on the acquisition of 80% of the 250 MW Mutkalampi wind farm in Central and Northern Ostrobothnia in Western Finland from Prokon, and the formation of an 80/20 joint venture regarding the wind farm between Neoen and Prokon. The parties have entered into a new power purchase agreement with Google covering a capacity of 130 MW of the Mutkalampi wind farm. Construction of the wind farm is due to begin in 2021, and it is expected to be commissioned at the end of 2022.

Neoen is one of the world’s most dynamic independent producers of renewable energy. With a capacity close to 3 GW in operation or under construction, Neoen is a high-growth company. Neoen is notably active in France, Australia, Mexico, El Salvador, Argentina, Finland, Ireland, Zambia, Jamaica and Portugal. In particular, Neoen operates Europe’s most powerful solar PV farm (300 MWp) in Cestas, France, and the world’s largest lithium-ion power reserve (100 MW/129 MWh storage capacity) in Hornsdale, Australia. Neoen is targeting more than 5 GW capacity in operation or under construction by 2021. Neoen is listed on the Compartment A of the regulated market of Euronext Paris.

With more than 39,000 members, Prokon Regenerative Energien eG is the largest renewable energy cooperative in Germany. The organisation specialises in producing and providing electricity exclusively from renewable energy sources and in close cooperation with private citizens. Prokon was originally founded in 1995. Today, the organisation provides private households all across Germany with electricity. Additionally, its core competencies contain the development, planning and construction of onshore wind farms and their technological and commercial operations management. Prokon currently manages 65 wind farms with an installed capacity of more than 680 MW in Germany and Poland.

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