Jenny Shahnovskij

Senior Associate, Member of the Finnish Bar, LL.M.

Services

  1. Banking & Finance
  2. Restructuring & Insolvency

Contact details

I advise our clients on a wide range of domestic and cross-border financing transactions.

Prior to joining Castrén & Snellman, I worked as a legal counsel at a Nordic financial institution, where I advised on a variety of financing and debt capital markets transactions for large corporates and institutions. Before that I worked for several years at another leading Finnish law firm where I advised financial institutions, sponsors and borrowers on transactions including leveraged finance, real estate finance, project finance and general corporate lending. During my career I have also worked as a visiting lawyer at two other financial institutions.

The IFLR1000 has named me as Rising Star.

Latest references

Suomen Aurinkovoima – Financing arrangement to build solar parks
Castrén & Snellman acted as legal advisor to Suomen Aurinkovoima Oy and its owners in a financing tender process and a financing arrangement implemented with Danske Bank to secure financing for the company’s future solar park projects. Suomen Aurinkovoima, established by Oulun Seudun Sähkö, Oulun Energia, Vantaan Energia and Savon Voima, is a company focused on increasing domestic solar power. The company manages solar park projects from planning to implementation and maintenance, and its goal is to build dozens of new solar parks across Finland by 2030.
Case published 22.10.2025
Funders – EUR 665 million refinancing arrangement for Nevel
We acted as the Finnish legal counsel for the funders to Nevel Oy in a EUR 665 million refinancing arrangement through a mix of multicurrency bank loans and private placement notes. Nevel is a utility infrastructure company offering advanced industrial and real estate infrastructure solutions that are fit-for-purpose and future-proof. The transaction supports Nevel’s growth strategy and its goal to help customers to achieve climate goals.
Case published 20.8.2025
Nordea Bank – EUR 150 million new green financing
We advised Nordea Bank Abp in the EUR 150 million new green financing for Lahti Energia Oy to support investments promoting a clean transition and to refinance existing loans. Lahti Energia Oy’s green loan investments focus on solutions that reduce fossil carbon dioxide emissions and support sustainable development. Planned projects include electric boilers, district heating storage facilities, and investments in the development of energy networks.
Case published 1.7.2025
Neste – EUR 200 million Green Term Loan
We advised Neste as it signed a EUR 200 million bilateral green term loan agreement with Skandinaviska Enskilda Banken AB (publ). The proceeds of the loan will be used to finance eligible assets and projects in accordance with Neste’s Green Finance Framework. The loan has a tenor of five years. Neste published a renewed Green Finance Framework in February 2024 to align future financing activities with market best practices and standards. In addition to renewable and circular solutions, Neste’s renewed framework includes renewable energy as an investment category. Longer term actions on Neste’s climate roadmap include scaling up new technologies and innovations, with focus on renewable hydrogen. Renewable hydrogen and other new technologies are estimated to have a reduction potential of 20% or more of the 2019 scope 1 and 2 emission baseline by 2030.
Case published 21.2.2025
City of Pori – Sale of 49% stake in Pori Energia to Polhem Infra
Castrén & Snellman is acting as the legal advisor to the City of Pori in its sale of a 49% stake in Pori Energia to Polhem Infra. Pori Energia, a multi-utility company, operates in various sectors including district heating, electricity distribution, and electricity generation through CHP and renewable sources. The company also provides wind power services and industrial energy solutions in the Satakunta region. This strategic partnership between the City of Pori and Polhem Infra aims to enhance Pori Energia’s financial stability and investment capabilities, enabling the company to further its efforts in the energy transition and continue delivering high-quality energy services to its customers. Polhem Infra, owned by Swedish state pension funds, focuses on investments in critical infrastructure, including renewable electricity generation, energy storage, energy distribution, digital infrastructure, and transport infrastructure. The transaction values Pori Energia at EUR 905 million. 
Case published 31.1.2025
Swiss Life Asset Managers Nordic – Acquisition of a prime logistics property from a fund managed by Savills Investment Management
We advised a fund managed by Swiss Life Asset Managers Nordic in its acquisition of a logistics property in Hyvinkää from a fund managed by Savills Investment Management. In addition to advising on the transactional aspects, we also advised on the financing of the acquisition as well as in designing an appropriate international acquisition structure and addressing relevant tax implications. The property serves as the central warehouse in Finland for Ahlsell, a leading Nordic technical wholesaler, which has been leasing the property since its construction. The state-of-the-art logistics centre was originally built in 2002 and has undergone several improvement projects over the years. The latest extension, completed in 2024, added around 11,000 square meters of new storage area to the property, bringing the total lettable area to 47,000 square meters. The property has been developed with a strong emphasis on energy efficiency with on-site solar power and renewable district heating. The sustainability features of the property were also further optimised and the asset just received BREEAM Excellent certifications in both BREEAM New Construction and BREEAM In-Use.
Case published 20.1.2025
Neste – EUR 150 million Green Term Loan
We advised Neste as it signed a EUR 150 million bilateral green term loan agreement with Danske Bank A/S, Finland Branch. The proceeds of the loan will be used to finance eligible assets and projects in accordance with Neste’s Green Finance Framework. The loan has a tenor of 24 months with one 12-months extension option of 12 months. Neste published a renewed Green Finance Framework in February 2024 to align future financing activities with market best practices and standards. In addition to renewable and circular solutions, Neste’s renewed framework includes renewable energy as an investment category. Longer term actions on Neste’s climate roadmap include scaling up new technologies and innovations, with focus on renewable hydrogen. Renewable hydrogen and other new technologies are estimated to have a reduction potential of 20% or more of the 2019 scope 1 & and 2 emission baseline by 2030. 
Case published 4.11.2024
Neste – EUR 200 million Green Term Loan
We advised Neste as it signed a EUR 200 million bilateral green term loan agreement with UniCredit Bank Austria AG. The proceeds of the loan will be used to finance eligible assets and projects in accordance with Neste’s Green Finance Framework. The loan has a tenor of six years. Neste published a renewed Green Finance Framework in February 2024 to align future financing activities with market best practices and standards. In addition to renewable and circular solutions, Neste’s renewed framework includes renewable energy as an investment category. Longer term actions on Neste’s climate roadmap include scaling up new technologies and innovations, with focus on renewable hydrogen. Renewable hydrogen and other new technologies are estimated to have a reduction potential of 20% or more of the 2019 scope 1 and 2 emission baseline by 2030. 
Case published 21.10.2024

Get to know our other experts in the field

Minna Korhonen
Position: Partner
Primary service Banking & Finance
 +358 50 544 8520
Sakari Lukinmaa
Position: Partner
Primary service Banking & Finance
 +358 40 508 9272
Tero Tuomisto
Position: Partner
Primary service Banking & Finance
 +358 40 514 2819
Anna-Sofia Alahuita
Position: Senior Associate
Primary service Banking & Finance
 +358 50 431 6112
Valter Olkkonen
Position: Senior Associate
Primary service Banking & Finance
 +358 40 829 1436
Juhana Hyytinen
Position: Associate
Primary service Banking & Finance
 +358 44 360 0094
Noora Koskinen
Position: Associate
Primary service Banking & Finance
 +358 40 091 6089