As we approach the end of the year, it’s time to reflect and look ahead. As always, the New Year brings with it a wealth of opportunities, inspiring hope and enthusiasm. Yet, we must also acknowledge the severe uncertainties and risks that lie ahead. Now, more than ever, we in Finland and in Europe need a long-term vision for the future.
23.12.2024
Growth ahead
Sakari Lukinmaa
Our enduring strengths – our skills, creativity, our strong work ethic, and our belief in shaping our own destiny – remain intact. However, these qualities often go unspoken, overshadowed by polarisation and individual interests.
There are still many reasons for optimism. The green transition, the digital transformation and AI offer growth opportunities for Europe, but we must seize them instead of waiting for them to be handed to us. Europe must find a way to come together, be competitive and have a strong voice on global stage.
The recent Slush event, a start-up festival held in the dark and chilly days of November in Helsinki, showcased a remarkable gathering of investors and promising growth companies from all over the world. The willingness to take risks and work hard was palpable. If this doesn’t inspire confidence in the future, what will?
Looking ahead, we are seeing some promising signs of economic growth and the interest rates are expected to continue to decline. This environment should encourage more companies to take risks and invest. We need new success stories to cherish. At Castrén & Snellman, we are committed to rolling up our sleeves and helping our clients grow and succeed in 2025.
Wishing our clients, business partners, and staff a peaceful Christmas and a prosperous 2025 filled with courage and success.
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Latest references
Rabobank – Financing arrangement for Olana Energy
Castrén & Snellman acted as legal advisor to Coöperatieve Rabobank U.A. in its capacity as sole lender and hedging bank providing senior financing to Olana Energy for a Battery Energy Storage Systems (BESS) portfolio in Finland. Our advice included preparing a legal due diligence report on the projects as well as advising on the negotiation of the various finance and project agreements. Olana Energy is a management-owned fast-growing independent power producer with an international pipeline of over 1 GW. The diversified portfolio of assets ranging from 5 to 30 MW reinforces the Finnish grid at a granular level.
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Nomios – Acquisition of Intragen Group
We advised Nomios, a portfolio company of the European growth buyout investor Keensight Capital, with its cross-border acquisition of Intragen Group, a leading European expert in digital identity and access management. The acquisition marks a major milestone in Nomios’ growth strategy and further strengthens its position as the global trusted partner for cybersecurity across Europe. Nomios is one of Europe’s leading providers of cybersecurity services. Keensight Capital is a European growth buyout investor with deep expertise in technology and healthcare.
Case published 17.11.2025
Ministry of the Environment – Report on the promotion of circular economy aspects in public procurement
Castrén & Snellman was commissioned by the Ministry of the Environment to carry out a study on how the Circular Economy Act could be used to promote circular economy aspects in public procurement. Our report provides valuable information to the working group tasked with preparing the new Circular Economy Act. The report includes an overview of relevant strategies, action programmes and policies, a look at relevant legislation and case law, an assessment of the current state of circular economy procurement and examples of integrating circular economy aspects into public procurement from around the world. We end the report with concrete conclusions and a proposal for a new circular economy provision with justification. The proposal aims to maximise the regulation’s effectiveness and minimise any adverse side effects. The final report is available on the Circular Economy Act project’s Gateway to Information (in Finnish). The study was carried out by Anna Kuusniemi-Laine, Sanna Aalto-Setälä, Lotta Huhtamäki, Marja Ollila, Laura Vuorinen, Paavo Heinonen and Anna Ylitalo.
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CapMan Real Estate – Acquisition of a High-Quality Residential Asset
We advised CapMan Real Estate in the acquisition and financing of a high-quality residential asset located in Katajanokka, Helsinki. The asset was acquired from the Finnish Seamen’s Service Bureau (MEPA). The property consisting of 38 modern rental apartments with a parking garage was completed in 2017. The building features high-quality construction, modern floorplans, and well-designed communal areas including a gym and rooftop sauna premises, and blends with the area’s historic maritime character. The residential asset is located in the prestigious Katajanokka seaside district of central Helsinki, known for its architectural heritage and proximity to the city centre. The property has a high ESG profile which will be further improved by CapMan Real Estate.
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