Exilion – Refinancing of a renewable energy portfolio

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We acted as legal counsel to Exilion in connection with senior facilities of up to EUR 185 million, comprising a EUR 174 million committed facility and an EUR 11 million uncommitted facility, for the refinancing of its renewable energy portfolio with a total capacity of 480 MW. The facilities were arranged by OP Corporate Bank plc and DNB Bank ASA, Sweden branch, as mandated lead arrangers.

The financed portfolio comprises 14 wind farms with a combined operational capacity of 380 MW, together with the Simo solar PV project (70 MWp) and the Mäntyharju BESS project (30 MW / 66 MWh), both of which were added to the portfolio in connection with the refinancing.

Lieke’s mandate covered the structuring of the refinancing, due diligence on the financed assets, and the drafting and negotiation of the financing documentation.

Exilion is a Finnish investment and asset management company specialising in real estate and renewable energy, with EUR 1.2 billion in assets under management. It is owned by Elo Mutual Pension Insurance Company, Veritas Pension Insurance Company, the State Pension Fund of Finland and the Åbo Akademi University Foundation.

The Lieke core team was led by Partner Janne Veneranta (finance) and included Senior Associate Risto Mynttinen (finance), Partner Jussi Ekonen (M&A), Counsel Ida Lindfors (M&A), Counsel Hanna Tuominen (energy), Senior Associate Michelle Merlich (energy), Associate Tuuli Salmia (environment) and Associate Sami Hemmer (M&A).

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Team