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Etha assisted in major solar power financing deal

Etha has assisted in one of the largest solar PV deals ever made in Finland. Finnish project developer Aurinkokarhu has made an agreement with Renewable Power Capital to co-develop 1GW of solar power.

Etha has helped Aurinkokarhu in securing a partner for its utility-sized solar PV plant projects. Starting now, Aurinkokarhu will jointly develop its projects with London-headquartered Renewable Power Capital. The target is set on 1GW of solar PV plants in Finland and the projects are expected to reach ready-to-build stage around 2026.

Etha has assisted Aurinkokarhu with, among other things, transaction advisory, feasibility assessments and items related to technical consultancy.

“Etha has managed to structure a collaboration that works well for both parties, in a legal framework including both common and continental law features. We have received assistance regarding commercial as well as legal topics”, says Andreas Renfält, CEO of Aurinkokarhu.

Pan-European Renewable Power Capital is already an established player in Finland with 170MW of operational onshore wind power and 50MW of battery storage under construction.

“It is an exciting time to enter this fast-growing sector with such an established development partner as Aurinkokarhu. There’s huge potential for solar power in this region and we look forward to working with them to support the Nordic energy transition”, says Kevin Devlin, CEO at Renewable Power Capital.

The deal between Aurinkokarhu and Renewable Power Capital marks an important milestone for Etha.

“In recent times, we have increasingly started focusing on other renewable energy projects besides wind power. We are very happy to have been trusted with assisting in this important agreement that will help boost the whole Finnish solar power sector”, says Caroline Kullbäck, CEO at Etha.