Linklaters has advised Copenhagen Infrastructure Partners through its Green Credit Fund 1 together with certain co-investors, including Kommunal Landspensjonskasse and P Capital Partners, on their €325m debt financing of Ilmatar Energy Oy (Ilmatar), a Nordic renewable energy company and independent power producer. The financing involves a committed tranche of €325m and an uncommitted accordion of €175m.

The financing will support Ilmatar’s construction of renewable energy production in Finland and Sweden, with approximately 1GW of renewable energy in operation, under construction or in ready-to-build phases. The deal represents a milestone financing for Ilmatar, strengthening its position as a leading Nordic independent power producer.

The Linklaters team was led by Energy & Infrastructure partner Richard Coar, counsel Nick Szmigin, managing associate Madeline Armitage and associate Will Morton.

Richard Coar comments: “We are delighted to have been able to support CIP on another innovative financing solution designed to facilitate the development of significant renewable generation in Finland and Sweden”.