Scottish renewable energy consultancy Natural Power has provided advisory services for Finland’s first subsidy-free wind farm.
The firm has completed due diligence on behalf of ING Wholesale Banking during the financing process of the second phase of the onshore Lakiakangas wind farm, which is due to add a further dozen wind turbines, each with 4.2MW capacity, to the existing two. As technical due diligence advisor, Natural Power undertook reviews of contracts, the site (including ground investigations and transport/access), project design, environmental and permitting conditions, and the financial model. With finance secured, Natural Power will continue to work for the lender as an advisor throughout the construction phase.
Natural Power due diligence project manager, Neil Marshall, said: "Through our work in the Nordics, we have developed extensive local knowledge and experience throughout our business. This puts us in a strong position to deliver due diligence and advisory services for debt-financed developments in the region, and it was a pleasure to help secure finance on one of the first subsidy free projects in Finland."