Krogerus advises Ilmatar on the sale of Korpilevonmäki wind farm

Krogerus advised Ilmatar on the sale of its Korpilevonmäki wind farm to UB Renewable Energy Fund, a part of Finnish asset management group United Bankers and a new strategic partner for Ilmatar. UB Renewable Energy Fund will first acquire a 40% stake of the wind farm, followed by the acquisition of the remaining 60% stake upon fulfilment of certain conditions. The wind farm has a total capacity of 38,4 MW with a long-term power purchase agreement (PPA) and it is located in Säkylä, Southwest Finland.

Ilmatar will continue to operate and manage the Korpilevonmäki wind farm even though the ownership will transfer to UB Renewable Energy Fund. Commercial electricity production at the wind farm commenced in early March 2025 ahead of the planned schedule, thus making it the newest completed project of Ilmatar. The wind farm is estimated to produce a total of 125 gigawatt-hours (GWh) of renewable energy annually, which corresponds to the electricity consumption of approximately 50,000 apartment buildings or over 6,200 detached houses.

The Krogerus team was led by Partner Ville Hailikari and he was primarily assisted by Senior Associate Janne Helaskoski and Associate Saara Kinnunen. Partner Heidi Kivenjuuri advised on financing matters and she was assisted by Senior Associate Elina Terho. Partner Leena Lindberg advised on regulatory matters and she was assisted by Associate Oskar Kaskela.