Consultancy Natural Power has completed technical due diligence on behalf of ING Wholesale Banking during the financing process for the second phase of CPC Germania’s Lakiakangas wind farm in Finland.
The second stage of the project in Karijoki and Isojoki will feature 12 Vestas V150 4.2MW turbines, adding to the first phase that comprises two of the Danish manufacturer’s V126 3.45MW machines.
Phase two is slated to be operation in September 2019.
Natural Power’s work included reviews of contracts, the site, project design, environmental and permitting conditions and the financial model.
The consultancy will continue to work for the lender as an advisor during 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.”
ING Wholesale Banking Germany head of renewables and power Olaf Beyme said: “Natural Power has an excellent understanding of the requirements that really do matter for debt financing and puts rigorous focus on these points without forgetting the bigger picture.
“We were impressed how seamless and efficient the due diligence process worked, despite the very tight deadlines.”