12.6.2019

The Idea of Finland

As Finnish society and politics are reorienting themselves, I cannot help but spend a moment thinking about what the idea of Finland will be in the future. How will the success story of an independent Finland that has developed into one of the world’s most well functioning societies continue? Climate change, trade wars, isolationism and the increasingly polarised and even hostile exchange of views cast shadows that make it easy to fall into pessimism.

Finland’s new government has taken the position that politics must provide people security and hope for a better tomorrow in a rapidly changing world. Politics and the public sector are important building blocks of a good world, but they are not the only ones. I persistently believe in the ability of individuals, communities and companies to face up to and solve problems. The solution can be found in every one of us—including as consumers. The state’s job is to provide a dynamic and fair legal environment to support this development. 

I have been happy to see how the Finnish business community has tackled the challenges of the day—whether in the form of biofuels, hybrid engines for cargo ships or green bonds. This change was not dictated by legislation or regulation, but had its start in companies and investors themselves seeing that reform is inevitable and also creates business opportunities.

We have also re-examined our own societal contributions at Castrén & Snellman. Sustainable and responsible business practices, such as caring for our employees and our environment, form one of the pillars of our firm.  Another pillar concerns our role as a corporate citizen. As a member of the Finnish Bar Association, we contribute to the rule of law and good legislation and engage in pro bono work in projects that benefit society as a whole.

Our third pillar—where our impact is the greatest—involves our clients: we help our clients meet the requirements of corporate responsibility in their businesses and to renew themselves sustainably. This is something we are focusing on more and more in all of the advice we provide.

Finland cannot solve global problems alone, but we can blaze a trail and be a responsible example for others. Disagreements are acceptable and to be expected, but we do need to find a shared way forward and put our trust both in ourselves and in each another. We need education, innovation, risk-taking, an international mind-set and, above all, hard work to ensure that Finland’s success story continues. Maybe that could be the idea of Finland.

Latest references

We advised Neste as it signed a EUR 250 million 10-year loan with NIB. The loan will finance Neste’s investments related to research and development (R&D) in processing lower-quality feedstocks into high-quality renewable products; as well as the liquefied waste plastics (LWP) investment at Neste’s refinery in Porvoo, Finland. The R&D activities supported by the loan focus on the development of renewable solutions. These include, for example, expanding feedstock capabilities and technologies that enable the processing of new and lower-quality waste and residues into high-quality renewable end products. Part of the financing supports Neste’s liquefied waste plastics investment in Porvoo, related to upgrading low-quality plastic waste into high-quality feedstock at an industrial scale. The investment contributes to advancing circular economy solutions by enabling the use of hard-to-recycle plastic waste as a replacement for virgin fossil raw materials. The unit has an annual capacity to process up to 150,000 tonnes of liquefied waste plastic. Production ramp-up commenced in 2026.
Case published 19.8.2026
We advised Aspo Plc, ESL Shipping Ltd and AtoBatC Shipping AB in relation to finance matters in connection with the demerger of Aspo, by which all the shares in ESL Shipping Ltd held by Aspo, together with the related assets and liabilities, will be transferred to a new independent company to be named ESL Shipping Group Plc. Aspo intends to apply for the shares of ESL Shipping Group to be admitted to trading on the regulated market of Nasdaq Helsinki. It is further intended that Aspo be renamed Telko Group Plc. 
Case published 19.8.2026
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