OP Corporate Bank, Nordea and SEB – Financing of Lestijärvi Wind Farm

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We advised OP Corporate Bank, Nordea and SEB as the financiers of an arrangement in which Nordic company OX2 signed an agreement with a consortium of Finnish energy companies, Kymppivoima, Oulun Energia and Kuopion Energia, to construct and divest a 455.4 MW wind farm in Lestijärvi, Finland.

Upon completion, the wind farm will be the largest wind power project in Finland. The wind farm’s yearly output will be over 1.3 TWh, which corresponds to about two per cent of the total annual electricity production in Finland.

Construction will begin in 2021. The wind farm will comprise 69 turbines with a maximum height of 240 meters and is scheduled to be completed in early 2024.