Etha performed due diligence services for Ilmatar to facilitate the arrangement of debt financing from a major European debt investor totalling 144.5 million euros. Ilmatar Energy Oy is a Finnish energy company that develops, builds, owns and operates wind and solar farms.
The work was done by a team of seven Etha consultants led by Caroline Kullbäck. The team reviewed a portfolio consisting of 27 projects with a total capacity of approximately 3500 MW.
The scope of the project included:
- Project specific reviews focusing on land access, permit status, grid connection and wind resources
- ESG, project timetable and success rate evaluations.
- A review of financial model assumptions.
