DNV GL acts as adviser to Lundin Petroleum and Sval Energi for acquisition of third largest wind farm in Finland

Published: 25 March 2020 - 9:57 a.m.
By: Baset Asaba

DNV GL has acted as technical advisor to Lundin Petroleum and Sval Energi in their acquisition of the 132 MW Metsälamminkangas wind farm in Vaala, North Ostrobothnia, Finland.

It consists of 24 GE Renewable Energy 5.5-158 turbines (5.5 MW and 158 m rotor diameter) with a 141m and 151m hub height and will have an expected yearly energy production of 400 GWh per annum. Once in operation in 2022, the wind farm will be the third largest in Finland.

Acting as a technical advisor throughout the transaction phase, DNV GL’s team of experts ensured a quick and sound assessment of the project’s risks and opportunities. DNV GL actively participated in contract negotiations and proposed mitigating actions to improve the robustness of the project. DNV GL will continue as technical advisor for the investors during the construction of the wind farm.

“The energy advisory and technical due diligence support from DNV GL was a great help to us as we sought to reach an investment decision and successfully acquire the 400 GWh Metsälamminkangas wind farm in Finland. We’d like to say a big thank you to the DNV GL team for their support in getting the deal through within the planned deadline,” commented Nick Walker, COO of Lundin Petroleum.

"The Metsälamminkangas wind farm marks the beginning of a new chapter for Sval Energi. We would like to thank DNV GL for their great support in making this possible for us”, said Abdelkarim Abbou, CEO of Sval Energi.

“We’d like to congratulate all the parties involved on this achievement. At a time of intense competitive pressure in the wind industry, the acquisition of Metsälamminkangas is another good example of the industry proving it can thrive in a subsidy-free world,” said Prajeev Rasiah, Executive Vice President for DNV GL’s Energy business in Northern Europe, Middle East and Africa.

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