Vilma Setälä

Senior 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

Delta Capacity – Acquisition of BESS Project
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
Oomi Solar – Sale of a Solar Power Plant and Battery Energy Storage Project
We advised Oomi Solar Oy on the sale of a solar power park and battery energy storage project to Tuulipolar Oy. The transaction concerned a 24 MWp solar power plant and a 36 MW / 70 MWh battery energy storage system (BESS) to be constructed in Tornio. Tuulipolar Oy will act as the owner and operator of the plant, while Oomi Solar Oy will be responsible for its design and construction. The project will form the world’s northernmost industrial hybrid power plant, contributing to Finland’s green energy transition by increasing renewable energy production and electricity storage capacity in Northern Finland. The hybrid solution enables optimization of production as well as active participation in electricity markets and reserve services, improving the project’s profitability and supporting the balance of the electricity system year-round. Electricity production from the hybrid plant is expected to begin in 2028. Oomi Solar Oy is a Finnish renewable energy expert with experience from nearly 200 MW of installed solar capacity. The company helps businesses and communities accelerate the green transition by offering comprehensive solutions, including solar power plants, energy storage systems, and related lifecycle services from project development to maintenance. Oomi Solar Oy employs more than 20 energy professionals and delivers solar power projects across Finland. The company’s vision is to be Finland’s most desired partner for solar energy and energy solutions.
Case published 5.6.2026
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
Jolt Capital and Tesi – Investment in VEV
We advised Jolt Capital and Tesi in connection with their investment in VEV, a leading provider of commercial fleet electrification solutions. The investment, led by Jolt Capital with Tesi as co-investor, will support VEV’s next phase of growth and expansion across Europe. As part of the transaction, VEV became an independent company following the acquisition of Vitol’s stake in the business. Founded by Vitol, VEV provides integrated fleet electrification solutions combining fleet strategy, charging infrastructure, energy supply and operational services. Through its VEV IQ platform, the company supports more than 6,000 commercial electric vehicles across Europe and has been deployed across more than 600 sites spanning the transport, logistics and waste sectors. Jolt Capital is a private equity firm focused on growth investments in European deeptech companies. Tesi is a Finnish state-owned investment company that promotes Finnish business and economic growth through investments. We advised Jolt Capital and Tesi on the equity financing and structuring aspects of the transaction. International law firm Goodwin advised the investors on the acquisition of VEV.
Case published 10.9.2026
VR Group – Intellectual property matters
VR-Group Plc is a transport and logistics group owned by the Finnish State, operating passenger and freight rail transport in Finland with activities also in the Swedish market. VR Group provides passenger, logistics and maintenance services with over 160 years’ experience in developing responsible transport of the future. We advise VR Group in intellectual property matters as part of the company’s wider brand protection efforts. Our assignments have included advice on copyright, design rights and trademarks, focusing on the protection of the company’s visual identity – including its distinctive green colour – in connection with transport services as part of a comprehensive IP protection strategy. VR Group’s consistent brand building has also received recognition, including the Finland Chamber of Commerce’s Brand of the Year award in 2026. In the competition, brands were viewed comprehensively from various perspectives, including their story, strategic role, brand renewal ability and intellectual property protection. The jury found that VR had understood the importance of the protection of its brand as part of a comprehensive business strategy. 
Case published 9.9.2026
NoHo Partners – EUR 50 million secured notes and EUR 97 million senior secured facilities agreement
We advised NoHo Partners Plc on the issuance of EUR 50 million senior secured floating rate notes. The notes have a tenor of four years and mature on 10 September 2030. The notes bear interest at a rate of three-month EURIBOR plus a margin of 4.375 per cent. per annum. The notes were allocated to a mix of domestic and international investors. We also advised NoHo Partners on the negotiation of its new senior facilities agreement. The facilities agreement comprises a EUR 60,000,000 term loan facility, a EUR 10,000,000 capex facility and a EUR 27,000,000 revolving credit facility. “We are delighted by the interest investors have shown in the company’s Notes, which reflects confidence in our strategy. The successful issuance of the Notes, together with the new loan agreement, extends the maturity profile of our financing and enables the company to continue executing its growth strategy going forward. I would like to thank all investors for their participation, as well as our partner bank for the excellent execution of the Notes issuance”, says Jarno Suominen, CEO of NoHo Partners. OP Corporate Bank plc acted as the sole lead manager and bookrunner for the issue of the notes. NoHo Partners Plc is a Finnish group established in 1996, and it specialises in restaurant services being the creative innovator of the Northern European restaurant market. The company was listed in Nasdaq Helsinki in 2013 becoming the first Finnish listed restaurant company, and it has continued to grow strongly throughout its history. NoHo Partners’ vision is to be the leading restaurant operator in Northern Europe.
Case published 4.9.2026
Topfoods – Acquisition of Delice Plus
We advised Topfoods Oy, a Triton-backed Geia Group company, on its acquisition of Oy Delice Plus Ab, a Finnish supplier of cakes and pastries. Through the acquisition, Topfoods strengthens its retail business and further reinforces its position in the cakes and pastries segment. Founded in 2008, Topfoods supplies selected food products to professional kitchens, the retail sector, and the food industry. 
Case published 4.9.2026

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