Due Diligence for Ilmatar

Etha performed due diligence services for Ilmatar to facilitate the arrangement of debt financing.

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.

Read more about the project at Ilmatar’s website.