Europe: WFW advised HSH Nordbank on €30.2m Finnish wind park project financing

HSH Nordbank provided a long-term financing of €30.2m to developer ABO Wind AG for ”Silovuori”, which is located 100 km to the south of the town of Oulu.

The “Silovuori” wind park is being built by ABO Wind for commissioning in December 2016, with eight Vestas V126 wind energy turbines having a hub height of 137 metres and a total capacity of 26.4 MW.

Following the financial close of the project financing, “Silovuori” was acquired from ABO Wind by German asset managers KGAL for a renewable energy fund it manages for various institutional investors.

The WFW team was led by Hamburg-based partner Thomas Hollenhorst (Banking & Finance). He was supported by senior associate Alexander Wojtek and associate Dr. Pascal Unger (both Banking & Finance, Hamburg). For the Finnish law aspects of the transaction, WFW worked closely with its Finnish correspondent law firm Krogerus.

Lead partner Thomas Hollenhorst commented: “We are delighted that we have been able to assist our long-standing client HSH Nordbank on their further business expansion in Scandinavia with our significant experience in cross-border energy projects”.