Eversheds Sutherland advised Kommunalkredit Austria AG on financing Finland’s largest battery energy storage project
The Global Law firm, Eversheds Sutherland advised Kommunalkredit Austria AG on the term loan financing of the 100 MW / 200 MWh SIMO Battery Energy Storage System (BESS), developed by Fotowatio Renewable Ventures (FRV) in partnership with AMPTank Energy. The project represents Finland’s largest BESS and a significant milestone in the country’s energy transition, enhancing grid stability, enabling greater renewable integration, and supporting decarbonisation across the Nordics.
Kommunalkredit acted as sole arranger and lender on the financing.
Mark Dennison commented:
“The SIMO project is a landmark in Finland’s renewable energy journey and a clear demonstration of the critical role battery storage plays in achieving grid resilience and energy security across Europe. We’re delighted to have supported Kommunalkredit on this strategically important transaction.”
Peter Greenall added:
“This transaction reflects the growing internationalisation of BESS as an asset class and builds on Eversheds Sutherland’s leading position advising across the sector. It’s exciting to see continued momentum in the market as investors and developers look to scale deployment globally.”
The Eversheds Sutherland team advising on the transaction comprised Mark Dennison (Partner), Peter Greenall (Partner), David Wyles (Partner), Timothy H. (Partner), and Eunice W. (Partner) in London; Teresa Villarroya Vargas (Partner) and Eugenia García-Calzada Villar (Partner) in Madrid; and Henrik Sandholm (Partner), Leena Pyymäki (Partner), Sanni Tirkkonen (Associate), and Henri Minkkinen (Associate) in Helsinki.
If you have a news or deal publication or would like to collaborate on content, columns, or article publications, connect with the Legal Era News Network Team and email us at [email protected] or call us on +91 8879634922.