Deal Announcement NEOEN
Finland's largest wind power project under construction increases the current wind power capacity by c.15 % in Finland.
PwC acted as the Tax and Model Reviewer on behalf of Neoen and MEAG in financing the construction and operation of the Mutkalampi wind farm located in the Central and North Ostrobothnia regions in Finland.
Neoen fully owns the project and its non-recourse senior debt will be provided by MEAG, a Munich Re company.
The construction of the project has commenced in the municipalities of Kannus, Kalajoki and Karleby. The wind farm will consist of 69 wind turbines with a total capacity of 404 MW. Once in operation, it is expected to generate electricity of more than 1 TWh annually.
Most of the electricity output will supply Google, Heineken, Nobian (previously Nouryon), Philips and Signify through five 10-year corporate Power Purchase Agreements, for a combined total of 251 MW.
Reference summary:
Type of assignment: Corporate Finance and Tax
Sector: Energy
Description of assignment: PwC acted as the Tax and Model Reviewer on behalf of Neoen and MEAG in financing the construction and operation of the Mutkalampi wind farm located in the Central and North Ostrobothnia regions in Finland.
Date: Announcement 8 April 2021
PwC’s role: Tax and Model Reviewer to Neoen and MEAG
Press release:
