Due Diligence and Contract Review for Helen and Ålandsbanken

Etha Wind provided Due Diligence and Contract Review services for Helen’s and Ålandsbanken Wind Power Fund’s acquisition of a wind farm project in Eastern Finland.

The acquired wind farm is to be built in Pieksämäki, in the province of Southern Savonia by the seller OX2. The wind farm will consist of 22 turbines with a total capacity of 145 MW. Once completed, the Niinimäki wind farm will be the largest wind farm in Eastern Finland.

The wind farm in Pieksämäki is expected to be ready by the end of 2024 and will have an energy production corresponding to the annual electricity consumption of more than 80 000 households. The Niinimäki wind farm is the fourth joint wind power investment of Helen and Ålandsbanken Wind Power Fund.

Etha Wind participated in the transaction as technical advisor for the buyers. Etha Wind supported the buyers’ by providing full scope Technical Due Diligence services and Contract Review services for procurement related agreements. In practice, Etha Wind has reviewed that the documentation and technical part of agreements are of high quality and that the wind park has been developed in line with laws, regulations, and best practice.

Caroline Kullbäck, Managing Director at Etha wind comments: “We are happy to have been able to support Helen and Ålandsbanken Wind Power Fund in this transaction. It is great to see that the close co-operation between our teams has resulted in a successful transaction.”

The Etha Wind team consisted of Caroline Kullbäck, Oliwia Lindström, Filippa Virtanen, Lina Kamlin, Alexander Ehrs, Ville Kronqvist, Isabella Häggblom, Patricia Finnström, Victor Högholm, Einari Jänisoja, Christian Granlund, and Staffan Asplund.

Read more about the transaction on Helen’s and Ålandsbanken Wind Power Fund’s website.