Implementation of Lakiakangas 3 Wind Farm
We advised Helen Ltd in a transaction whereby Helen agreed on the implementation of the Lakiakangas 3 Wind Farm as a joint undertaking with the project developer CPC Finland. The project supports Helen’s target to increase the company's wind power production fivefold in two years. Helen’s target is carbon-neutral energy production in 2035.
The wind farm consists of 20 turbines with a total power output of 86 MW. The construction work of the farm is underway, and commercial wind power production will start towards the end of 2021. Helen will purchase all of the electricity generated by the wind farm company, and it will provide the company with electricity market services. Energy generated by the new wind farm will be available to Helen’s customers in 2022.
In addition to the wind farm company, the project involves an electricity transmission company, which will be responsible for transmitting the electricity generated by the wind farm to the national grid. The total investment of the project is almost EUR 100 million. Helen owns 60% and CPC Finland 40% of the joint undertakings.
We had a key role in supporting Helen in forming its investment decision and in drafting and negotiating the key agreements for the transaction.