K2 Management acted as the Lenders Technical Adviser (LTA) for NORD/LB, a prominent German bank and renewables investor.
The Pajuperänkangas wind farm, developed by ABO Wind, will deliver a total capacity of 87MW through 14 Vestas wind turbines, each with a hub height of 169 meters. The project reached financial close in September 2022, following the successful acquisition of a debt package from NORD/LB to finance the construction and operation of the wind farm. The wind farm is anticipated to begin operations by early 2024.
The project’s complexity required meticulous planning and rigorous technical oversight to ensure compliance with industry standards and investor requirements. Given the scale of the investment and the technical challenges associated with constructing and commissioning a wind farm in the Nordic climate, NORD/LB needed an experienced LTA to mitigate risks and ensure project success.
We were brought on board early in the financing process, beginning work in early 2022. Our role as LTA involved several critical tasks including due diligence and risk assessment, as well as construction monitoring.
Through our guidance and oversight, the Pajuperänkangas wind farm has progressed smoothly through its construction phase, with all major technical challenges addressed effectively. The project remains on track to become operational by 2024, positioning it as a vital contributor to Finland’s renewable energy portfolio.
“We are delighted to have been selected by NORD/LB as the LTA for the Pajuperänkangas wind farm,” said Diego Chernichero, Senior Consultant at K2 Management. “Finland is continuing to progress in the field of onshore wind, with a promising pipeline of projects in the years ahead and significant growth potential given its high wind resource. This partnership signifies a milestone for us as we expand our presence in the Nordic market. We’re committed to working closely with NORD/LB to ensure the technical, and ultimately financial, success of this project.”