Linklaters has advised Copenhagen Infrastructure Partners through its Green Credit Fund 1 together with certain co-investors, including Kommunal Landspensjonskasse and P Capital Partners, on their €325m debt financing of Ilmatar Energy Oy (Ilmatar), a Nordic renewable energy company and independent power producer. The financing involves a committed tranche of €325m and an uncommitted accordion of €175m.
The financing will support Ilmatar’s construction of renewable energy production in Finland and Sweden, with approximately 1GW of renewable energy in operation, under construction or in ready-to-build phases. The deal represents a milestone financing for Ilmatar, strengthening its position as a leading Nordic independent power producer.
The Linklaters team was led by Energy & Infrastructure partner Richard Coar, counsel Nick Szmigin, managing associate Madeline Armitage and associate Will Morton.
Richard Coar comments:
“We are delighted to have been able to support CIP on another innovative financing solution designed to facilitate the development of significant renewable generation in Finland and Sweden”.
Linklaters has a consistent track record supporting developers, investors and financial sponsors in the low carbon and energy transition sector, with market-leading expertise across the full spectrum of transactions – from solar and wind, to hydrogen, carbon capture, batteries and storage, green and sustainability-linked finance.
