UB Renewable Energy Fund – Acquisition of a wind farm from Ilmatar Energy Oy

Wind farm_tuulipuisto

We acted as legal advisor to United Bankers’ UB Renewable Energy Fund on its acquisition of a wind farm from Ilmatar.

We acted as legal advisor to United Bankers’ UB Renewable Energy Fund on its transaction with Ilmatar for the Korpilevonmäki wind farm in Säkylä, Southwest Finland. UB Renewable Energy Fund will initially acquire a 40% stake in the wind farm, followed by the acquisition of the remaining 60% stake subject to the fulfilment of certain conditions.

The total capacity of the Korpilevonmäki wind farm is 38.4 MW consisting of six turbines. The commercial operations of the Korpilevonmäki wind farm started at the beginning of March 2025. The wind farm is expected to produce a total of 125 gigawatt hours (GWh) of renewable energy per year. The energy produced by the Korpilevonmäki wind farm will be sold to Mondelēz International under a ten-year power purchase agreement (PPA).

The United Bankers’ UB Renewable Energy Fund offers the opportunity to invest in the growing market created by the energy revolution and the green transition. The fund invests mainly in renewable energy development projects and renewable energy power plants, such as wind farms and solar power plants, located in Finland and Europe. In addition, the fund may invest in infrastructure that supports the fund’s investments or energy production, transmission and storage in general, as well as in the hydrogen industry. The fund is managed by UB Rahastoyhtiö Oy.

Lieke’s core team comprised Partner Jussi Ekonen, Senior Associate Hanna Tolonen (M&A) and Associate Ilkka Toropainen (M&A), assisted by Janne Veneranta (Finance), Aimo Halonen (Energy and infrastructure, Construction), Alisa Montonen (Energy and infrastructure), Michelle Merlich (Energy and infrastructure, Construction), Hanna Tuominen (Environment and land use), Henrik Koivuniemi (Competition law), Risto Mynttinen (Finance) and Otto Koskinen (Energy and infrastructure).

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Team