Marius af Schultén

Partner, Member of the Finnish Bar

Services

  1. Environment, Energy & Green Transition
  2. Infrastructure & Industrial Projects

Contact details

I head our Environment, Energy & Green Transition team. My key areas of expertise include land use planning and the permitting of large-scale infrastructure projects.

I have gained extensive experience as a strategic advisor to domestic and international energy and infrastructure project developers, investors, funds and financial institutions on their investments in Finland. This has included advice on green field project development, M&A transactions involving project companies or project assets, co-operation agreements between developers, and administrative court proceedings related to various permits and land use plans. One of my key focus sectors is renewable energy, in particular the sectors of onshore and offshore wind power, photovoltaics, battery storage and hydrogen. In addition, I regularly advise clients on various data centre, mining, forestry, chemicals and aquaculture projects. Chambers Europe ranks me as one of the leading Finnish legal experts in Energy and Natural Resources.

Regardless of the nature of the assignment – be it project development, transactions or court proceedings – understanding the client’s business is the key to high quality legal advice. Our job as lawyers is to help our clients in navigating through the legal jungle, thereby ensuring the successful realisation of their projects. This is only possible by focusing on finding solutions, not just searching for problems. This is the mindset that I strive to keep in everything I do.

Latest references

Nscale – Data centre project
Castrén & Snellman advised Nscale, a European AI infrastructure company, in connection with its planned data centre project in Harjavalta, Finland. The facility will be located in the Sievari industrial area. Castrén & Snellman’s advisory role encompassed the negotiation and execution of a site securing and development agreement (SSDA) with Fortum, as well as the preliminary land sale process for the Sievari site with the Town of Harjavalta. Under the SSDA, Fortum supports the advancement of Nscale’s project development, including grid connection design and permitting.
Case published 15.4.2026
Downing – Acquisition of the entire share capital of Tornionlaakson Voima
We advised UK-based investment company Downing in its acquisition of the entire share capital of Tornionlaakson Voima Oy. Tornionlaakson Voima owns three hydropower plants in the Tengeliönjoki river system – the Portimokoski power plants in Ylitornio, the Jolmankoski power plants in Raanujärvi and the Kaaranneskoski power plants in Sirkkakoski. The power plants produce a total of approx. 45 gigawatt-hours of electricity per year. Tornionlaakson Voima’s daily operations will continue normally, and the transaction will not affect customers. The consummation of the transaction is subject to the approval of the Ministry of Economic Affairs and Employment. Downing has over 35 years’ experience in providing a wide range of investment solutions to the needs of institutional investors, advisers and retail investors. The company manages over £2 billion in assets in both the private and public markets and its current hydro power portfolio includes approx. 50 hydro power plants in the Nordics. 
Case published 27.3.2026
Brookfield – EUR 1 billion holdco financing for DayOne Data Centers
We advised a leading global investment firm Brookfield, alongside a global sovereign wealth investor, on the Finnish law aspects of a EUR 1 billion holdco financing for DayOne Data Centers, a Singapore-headquartered developer and operator of hyperscale data centres. Structured as a seven-year secured holdco financing facility of €500 million, expandable to €1 billion – and secured by DayOne’s Finland platform – the financing will support the rollout of hyperscale developments in Lahti and Kouvola, providing nearly 300MW of planned capacity across Finland. The proceeds will also support DayOne’s global expansion across the EU and APAC, with flexibility to allocate to other key growth markets as required.
Case published 29.1.2026
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.
Case published 18.11.2025
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
Nevel – Acquisition of Labio’s business
We advised Nevel Oy in its acquisition of the business of Labio Oy. Lahti Aqua Oy and Salpakierto Oy sold their entire shareholdings in Labio to Nevel, expanding Nevel’s already significant biogas portfolio. The transaction will have no impact on Lahti Aqua’s water utility operations or Salpakierto’s municipal waste management responsibilities. Labio’s operations and customer relationships will continue as before. ‘This partnership is a natural next step for us as we continue investing in sustainable material efficiency and renewable energy solutions. By integrating Labio’s comprehensive offerings and expertise, we can provide customers with a strong platform for material circularity. We are also strengthening our market position as one of Finland’s leading material efficiency solution providers,’ says Ville Koikkalainen, Director of Industrial and Biogas Business at Nevel. Nevel is an energy infrastructure company offering advanced, climate-positive solutions for industry and real estate. It operates more than 130 energy production plants and manages over 40 district heating networks. Nevel’s annual turnover is EUR 150 million, and it employs 190 experts in Finland, Sweden and Estonia.
Case published 16.7.2025
KoBold Metals – Earn-In Agreement with Aurion Resources
We advised KoBold Metals on the Finnish legal and tax aspects related to its earn-in agreement with Aurion Resources. Under the agreement, KoBold (through its wholly owned subsidiary KoBold Exploration Finland Oy) can earn an undivided 75% interest in commodities discovered (other than any discoveries that are predominantly gold or silver), by incurring USD 12 million in exploration expenditures on or before the fifth anniversary of the date of signing the agreement. The exploration area covers approximately 35 km2 in Aurion’s 100% owned 160 km2 Risti Property in Sodankylä, Finland Following satisfaction by KoBold of the earn-in requirements, a joint venture will be established with KoBold owning 75% and Aurion 25%. KoBold Metals Company is a US-based exploration and mining company, supported by high profile investors such as Breakthrough Energy Ventures, Andreessen Horowitz, and Equinor. It combines expertise in geosciences with artificial intelligence, machine learning, and data science to improve and accelerate the exploration process in search of the critical minerals necessary for the global energy transition.
Case published 26.3.2025
Fortum – Acquisition of a project development portfolio for renewable power from Enersense
We are acting as a counsel to Fortum in a transaction in which Fortum is strengthening its renewable power project pipeline through the acquisition of a project development portfolio from Enersense. The debt-and-cash free purchase price is approximately EUR 9 million, with the potential for project-specific earn-outs subject to projects successfully reaching a final investment decision in the future. The transaction is subject to customary closing conditions and is expected to be completed during the first quarter of 2025. Fortum is a leading Nordic energy company with the purpose to power a world where people, businesses and nature thrive together. Fortum’s core operations comprise of efficient, CO2-free power generation as well as reliable supply of electricity and district heat to private and business customers. The company is listed on Nasdaq Helsinki. One of Fortum’s strategic targets is to develop at least 800 MW of ready-to-build onshore wind and solar projects by the end of 2026.
Case published 19.12.2024

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