Natural Power advises on 202.5MW Finnish wind project Ostara
Leading renewable energy consultancy and service provider, Natural Power, has delivered the role of technical adviser providing due diligence services to support the financing of Neoen and Prokon's wind portfolio being developed in Finland.
The portfolio is comprised of three assets, which are now under construction and are expected to be operational in 2025. Neoen owns an 80% stake in each project, the remaining 20% being owned by Prokon.
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1. Located in the municipality of Närpes in the western region of Ostrobothnia, Björkliden wind farm will comprise seven Nordex turbines, for a total capacity of 40.4 MW.
2. The Storbötet wind farm is located in the municipality of Uusikaarlepyy, in the region of Ostrobothnia, and will comprise 17 Vestas wind turbines with a total capacity of 105.4 MW (compared to the 95 MW originally planned).
3. The Lumivaara wind farm is located in the municipality of Hyrynsalmi, in the region of Kainuu. It will comprise nine Vestas wind turbines, with a total capacity of 55.8 MW (compared to the 53 MW originally planned).
As well as a high-level review of the project stakeholders, Natural Power delivered reviews of the permitting, grid, and environmental study, design and technology, contracts and lease agreements, project schedule and execution plan, and technical inputs of the financial model.
Neil Marshall, Advisory Lead - Onshore Wind, at Natural Power said: "I am delighted that the Natural Power team was able to help three more substantial projects in Finland reach financial close. This was a typical multi-disciplinary project that drew upon experience from across Natural Power to help identify and mitigate risks to the projects."
Natural Power has now also commenced construction monitoring for the lenders across all three sites.
Neoen is one of the world's leading producers of exclusively renewable energy, with more than 7.7 GW total capacity in operation or under construction. Prokon is Germany's largest energy cooperative and a leader in the field of project development and operation of wind farms.
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