Case study

Acquisition of 1.2GW Finnish onshore wind portfolio

Enera Partners assists US buyout manager in assessment and negotiation of Finnish onshore wind development partnership

The challenge

Enera Partners assisted the client in the assessment of a 1.2GW development portfolio, which included early-stage projects to more mature stage development opportunities. The deal properties also included the wind developer continuing as with a development services agreement and co-sponsor in the development portfolio.

The solution

Enera Partners was the exclusive financial adviser to the client and was responsible for overseeing the process with the vendor and their advisers.

Enera Partners provided a commercial review and overview of the Finnish power market, with a focus on the wind portfolio's attractiveness. The wind portfolio was evaluated, and the assets rated based on factors such as land leases, permit applications, grid connection, EIA, and general development status.

Moreover, Enera Partners played a crucial role in creating the term sheet, which outlined key agreements and development milestone payments between the parties. Enera and the client worked collaboratively to develop a capital structure template that incentivized the developer and allocated risks based on respective responsibilities. Additionally, Enera Partners prepared all bid documents and the financial model.

The Impact

The client was a highly capable investor within the field of renewables, and the addition of Enera Partners to the team meant that the client could focus on strategic decisions. Enera Partners’ involvement allowed the client to be swift and determined in its evaluation of the project, effectively leading to a good process.

The combination of financial, commercial and legal documentation skills was of key importance to how Enera Partners could add value to the transaction.