Published: 27 April 2021 27 April 2021
Natural Power has provided technical due diligence services and energy yield assessment to Neoen for the financing of its 404MW Mutkalampi wind farm in western Finland.
Neoen has now reached financial close for the project. Natural Power delivered an independent, bankable energy yield assessment and a comprehensive technical due diligence report including a review of the EPC contract, turbine O&M agreement, grid connection agreement, all power purchase agreements, construction programme, electrical design, site access and transportation arrangements, ground investigations, turbine technology, permits and environmental review, and a financial model technical inputs review. Natural Power will continue to support the lenders throughout the constructions stage, acting as technical advisor. This will include certification of debt draw downs, regular progress reporting and site visits. Most of the electricity produced in Mutkalampi will supply Google, Heineken, Nobian, Philips and Signify through five 10-year corporate power purchase agreements, for a combined total of 251MW. The first stage of energy production is due to become operational by the end of 2022, and the second stage, in the third quarter of 2023.