31.1.2024

Investments in the green transition require courage and cooperation

Something unique has been developing in Finland in the past few years: we have a large number of companies that have leveraged scientific research and high-level technical expertise to search for solutions to the energy transition and green transition. The companies have been in an experimental phase and built pilot facilities and factories. 

Right now, they are ready to commercialise their operations and start production in an industrial scale, but the transition to larger markets requires considerable investments. Individual projects may need hundreds of millions of euros, and in order to get the funding, the companies have to look to domestic investors, the state as well as international investors.

So far the companies have managed to raise overall funding for their start-up phase operations by leveraging public funding as national and international development financiers have supported the companies’ innovations. The state’s private equity investing is streamlined and concentrated during the term of this Government. Despite the changes, it would be important for the Government to keep the energy transition and green transition on its list of priorities and to be willing to invest in scaling innovations.

Finland has every chance of attracting international investments and to become a leader in new energy solutions. The energy transition concerns and benefits many industries, and we are already close to being self-sufficient in electricity production. The security of electricity supply is at a high level, and the average price is moderate. In addition, the permitting process for green transition projects is being streamlined and the Government aims for a one-stop shop permitting system.

It is time to roll up our sleeves and to take Finnish energy solutions and green transition projects to the next level. Companies should be raising funding prominently in the international investment market as well. Attracting international funding can, however, require catalysis from the state, and these opportunities should now be seized efficiently and prudently.

Latest references

We advised Neoen Renewables Finland Oy, part of the French Neoen Group, in its sale of a data centre project to a consortium consisting of international data centre developers and operators. This marked Neoen’s first data centre development project in Finland. Founded in 2008, Neoen is one of the world’s leading independent renewable energy producers. The company operates in 15 countries. It develops, finances, builds, owns, and operates solar power plants, wind farms, and battery storage systems. Neoen Group is owned by global alternative asset manager Brookfield Corporation.
Case published 17.9.2026
We acted as Finnish law legal adviser to the lenders and the export credit agencies in connection with the EUR 514.4 million green project financing for the development and construction of Easpring Finland New Materials Oy’s cathode active material (CAM) manufacturing plant in Kotka, Finland. The borrower, Easpring Finland New Materials Oy, is a joint venture owned by Beijing Easpring Material Technology, Finnish Minerals Group and LG Energy Solution. The financing was provided by six international commercial banks, with Société Générale acting as financial adviser and mandated lead arranger together with Natixis as co-mandated lead arranger, and DNB, ICBC, ING and Standard Chartered participating as lenders, with support from the export credit agencies Finnvera and Sinosure. The project represents a significant milestone for Finland and the European battery value chain by strengthening Europe’s domestic supply of cathode active materials, a key component in lithium-ion batteries for electric vehicles and energy storage applications. Once the first phase of the project is operational, the Kotka facility is expected to produce approximately 60,000 tonnes of cathode active material annually, making it one of the largest CAM production plants in Europe and supplying leading battery manufacturers across Europe. 
Case published 21.7.2026
We acted as Finnish legal advisor to Delta Capacity in connection with its acquisition of the ready-to-build Karppio battery energy storage system (BESS) project from Helios Nordic Energy. The acquisition was made and the project will be implemented together with Strioga Family Foundation. The Karppio BESS project is located in Teuva, Finland, and has a capacity of 125 MW / 300 MWh. Delta Capacity will lead the remaining development of the project through to commissioning, planned for 2027, and will serve as long-term asset manager. Delta Capacity is a Swiss-based developer of utility scale battery storage systems. The acquisition adds to Delta Capacity’s growing Nordic portfolio. 
Case published 20.7.2026
We advise Winda Energy Oy on the development of its c. 100 MW data centre project in Janakkala, Finland, a landmark investment exceeding EUR 500 million. The project is being developed in collaboration with European investment company Gi21 Capital. Construction is scheduled to commence in 2027, with completion targeted for 2028. Winda Energy Oy is a renewable energy project development company established in 2011, with a portfolio of wind and solar power projects across Finland. The company manages projects throughout their full lifecycle, from initial planning and permitting to construction and completion. 
Case published 8.7.2026