Borenius advised CapMan Infra and Skarta Energy on the project financing of a portfolio of two solar farms in Finland

We advised CapMan Infra and Skarta Energy on the project financing of a portfolio of two solar farms in Finland. The current financing is approximately EUR 50 million, and the financing agreement includes an accordion option concept for additional projects.

Currently, a quarter of all solar farms under construction in Finland belong to Skarta Energy. The financing covers Skarta Energy’s first operational solar farm in Pälkäne, which was connected to the grid in August, and Utajärvi, which will be one of the largest solar farms in Finland when constructed. Once completed, the Utajärvi solar farm will produce 94 GWh of electricity annually, which corresponds to the annual electricity consumption of approximately 16,000 households.

SEB Corporate Finance acted as the arranger of the financing, with SEB and NIB as the financiers. Skarta Energy is a renewable energy developer and producer owned by CapMan Infra and NYAB AB. The company specialises in emission-free industrial-scale solar power projects.