Newsec advises on sale of 206 MWp solar PV project in Finland

Newsec acted as exclusive financial adviser to international solar developer ib vogt on its sale of a 206 MWp solar PV project to Finnish energy company Helen. The solar farm is located in Kalanti, Uusikaupunki, in South-West Finland and is ready to be built. As part of the offered turn-key solution, ib vogt will provide full EPC, O&M and Asset Management services and start construction in the second quarter 2023.

With the location in Finland having similar solar radiation levels to northern Germany, the solar power plant is expected to produce more than 200 GWh of clean energy per year, once it reaches commercial operation starting in late 2024. The solar project marks a milestone for ib vogt as the first plant to be built in a Nordic country and is exemplary for the continuous growth and internationalization of the company. The PV farm will consist of more than 380,000 high-capacity bifacial solar modules built on a fixed-tilt substructure for optimal performance. The panels will produce clean solar electricity equivalent to the average annual consumption of approximately 28,800 households, while saving up to 17,600 tons of CO2 per year.

Commenting on the sale, Hamish Duncan, Head of Project Sales at ib vogt said:

“We are very pleased to have completed the Kalanti transaction with Helen, and look forward to our continued partnership as the project now moves into construction and operations. The project marks a significant milestone for both ib vogt and the renewable energy market in Finland, and we are excited to further build upon this success in the years to come. We thank the Newsec Infra team for their dedication to driving the process forward and solution-orientated approach to the transaction – their depth of expertise in Nordic renewable energy M&A is evident, and we are very pleased to have cooperated with them.”

Omid Ashrafi, Managing Partner at Newsec commented:

“We are delighted to work with ib vogt on this sales process and to conclude the transaction with Helen. While we have in recent years been part of a number of large-scale onshore wind deals, this is a landmark solar PV transaction for the Nordic market. The combination of ib vogt’s international expertise and track record within PV and Helen’s position as a leading power producer in Finland, expanding its production mix with solar makes this an interesting partnership. This sale marks Newsec Infra’s third large solar transaction in the Nordics this year.”