Vilma Setälä

Associate, Master of Laws

Services

  1. International Construction & Projects

Contact details

I advise our clients in assignments related to international construction and projects. Prior to joining Castrén & Snellman, I worked for a federation focusing on real estate brokerage and on issues related to both residential and real property law. In addition to this, I have worked in the Government of Åland and in another law firm.

In my current role, I am particularly inspired by the wide range of assignments in various areas of law. I enjoy an enhancing work environment that combines an international mindset with challenging assignments and an efficient work flow.

I hold a Master of Laws degree from the University of Eastern Finland. During my studies, I also studied at the Uppsala University in Sweden and participated in the Willem C. Vis International Commercial Arbitration Moot which focuses on international commercial law and arbitration for resolution of international business disputes.

Latest references

Excelerate Energy – Chartering an FSRU to Finland
We advised Excelerate Energy on the conclusion of a lease agreement with Gasgrid Finland Oy for the Floating Storage and Regasification Unit (FSRU) Exemplar. The Inkoo LNG terminal project will have a significant impact on securing the supply of gas to Finland and Estonia as imports of pipeline gas from Russia cease. The Exemplar is the first FSRU in Finland and the Inkoo LNG terminal project is legally unique. Moreover, the project, which is critical for Finland’s and the Baltics’ gas supply, was completed in an exceptionally short timeframe. Our experts assisted the company in a wide range of areas including contracts, energy legislation, licensing, labour law, taxation and structuring.
Case published 9.6.2023
Nevel – Acquisition of Veitsiluoto’s Energy Infrastructure, and Utility Supply for Infinited Fiber Company
We are advising Nevel Oy in the implementation of energy infrastructure services in Veitsiluoto in Kemi, northern Finland. Nevel will purchase the area’s district heating business from Stora Enso. The acquisition will ensure the continuity of the service for the local households and real estate. Nevel has signed a contract to supply the energy to the Stora Enso Veitsiluoto sawmill and plans to invest in a new 11 MW biofuel boiler plant and flue gas condenser at the Veitsiluoto sawmill, which will reduce emissions from heat production. Nevel has also agreed to supply renewable textile and fashion technology company Infinited Fiber Company with energy and water utilities for their new processing plant at the Veitsiluoto site. Infinited Fiber Company is planning to convert a paper factory previously operated by Stora Enso on the site into a textile fiber production plant. This will be the company’s first commercial-scale plant. The fiber production processes require steam energy and water purification. Among other services, Nevel is set to supply Infinited Fiber Company with energy and water utilities. Energy provided will be renewable, reducing emissions from heat production. Nevel is a utility infrastructure company offering advanced industrial and municipal infrastructure solutions that are fit-for-purpose and future-proof. Nevel operates more than 130 energy production sites and manages over 40 district heating networks. The company has an annual turnover of EUR 100 M, and employs 150 experts in Finland, Sweden, and Estonia. Infinited Fiber Company is a fashion and textile technology company. Its breakthrough innovation turns cellulose-rich materials – like worn-out clothes – into InfinnaTM, a premium textile fiber.
Case published 23.6.2022
Neste – EUR 500 million refinancing arrangement
We advised Neste Corporation on the refinancing of its EUR 500 million term facility by way of two EUR 250 million bilateral term facilities provided by OP Corporate Bank plc and Danske Bank A/S, Finland Branch.  Each term facility has a maturity of three years with extension options.
Case published 25.11.2025
Prisma Properties – Sale and leaseback of ten grocery retail properties
We are assisting Prisma Properties AB in a sale and leaseback arrangement with Kesko Oyj comprising ten grocery retail properties. The transaction value is approximately EUR 59 million, and the properties are located in Sastamala, Jyväskylä, Lappeenranta, Vihti, Oulu, Saarijärvi, Liminka, Imatra, Loviisa, and Eurajoki.  As part of the arrangement, the properties are leased back to Kesko Oyj under lease agreements with a weighted average lease term of 11.6 years. The portfolio includes well-known store concepts such as K-Citymarket, K-Supermarket, and K-Market.
Case published 20.11.2025
YIT – Data centre construction agreements with XTX Markets
We advised the urban developer and construction company YIT on the drafting and negotiation of two construction agreements with the leading algorithmic trading firm XTX Markets for the development of two data centres in Kajaani, Finland, which are part of XTX Markets’ data centre complex. The first agreement, valued at approximately EUR 100 million and signed in December 2024, marked the commencement of the construction of the first data centre facility in Kajaani, establishing Kajaani as a strategic hub for high-performance computing infrastructure.  Building on the success of this collaboration, YIT and XTX Markets entered into a second agreement in August 2025 to commence construction of a second data centre facility. This phase includes the delivery of the shell and core of the new building.
Case published 20.11.2025
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
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.
Case published 11.11.2025

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