GREEN GUIDE EMEA 2023: Finland
Castrén & Snellman
Member of the UN Global Compact as well as Science Based Targets initiative, Castrén & Snellman in Finland has integrated sustainability at the top level with Anna Kuusniemi-Laine
as Head of Sustainability. A sustainability steering group of multi-disciplinary experts across different departments supports Kuusniemi-Laine, and each legal practice area also has an appointment lawyer to lead on sustainability work. In 2022 the firm launched a corporate sustainability service to group together expertise in the field, also headed by Kuusniemi-Laine.
Head of banking and finance, Tero Tuomisto advises on high-value green finance transactions such as Finnfund’s issuance of a €75m sustainability bond, representing the client’s first issuance under its newly established Sustainability Bond Framework.
Samuli Tarkiainen is experienced advising on a full spectrum of renewable energy technology and infrastructure projects. Tarkiainen is assisting Fortum in its collaboration with Microsoft on a joint data centre project which will capture excess heat generated by a new Microsoft data centre and transfer it to homes, services, and business premises via the district heating system. This will be the largest project of its kind in the world.
The firm is also contributing to the expansion of Finland’s wind power capacity with support to OX2 regarding the development of two offshore wind farms, ‘Halla’ and ‘Laine’, and exploration permits in the wider areas. The client intends to fit over 300 offshore wind farms in the explored areas with a potential capcity of 23 TWh. Head of the environment, infrastructure and natural resources practice, Matias Wallgren, leads on this matter.
View more →
Castrén & Snellman
Member of the UN Global Compact as well as Science Based Targets initiative, Castrén & Snellman in Finland has integrated sustainability at the top level with Anna Kuusniemi-Laine as Head of Sustainability. A sustainability steering group of multi-disciplinary experts across different departments supports Kuusniemi-Laine, and each legal practice area also has an appointment lawyer to lead on sustainability work. In 2022 the firm launched a corporate sustainability service to group together expertise in the field, also headed by Kuusniemi-Laine.
Head of banking and finance, Tero Tuomisto advises on high-value green finance transactions such as Finnfund’s issuance of a €75m sustainability bond, representing the client’s first issuance under its newly established Sustainability Bond Framework.
Samuli Tarkiainen is experienced advising on a full spectrum of renewable energy technology and infrastructure projects. Tarkiainen is assisting Fortum in its collaboration with Microsoft on a joint data centre project which will capture excess heat generated by a new Microsoft data centre and transfer it to homes, services, and business premises via the district heating system. This will be the largest project of its kind in the world.
The firm is also contributing to the expansion of Finland’s wind power capacity with support to OX2 regarding the development of two offshore wind farms, ‘Halla’ and ‘Laine’, and exploration permits in the wider areas. The client intends to fit over 300 offshore wind farms in the explored areas with a potential capcity of 23 TWh. Head of the environment, infrastructure and natural resources practice, Matias Wallgren, leads on this matter.
HPP Attorneys
Finnish full-service firm HPP Attorneys is known for its large environmental law practice and frequently demonstrates its deep expertise in complex issues surrounding the green transition. Kari Marttinen, who heads up the environmental team, has a longstanding track record in the renewables space having assisted renewable energy clients since the 1990s.
The team has a strong foundation advising in the wind sector and has expanded its expertise across a range of renewable technologies. Björn Nykvist recently advised VSB group on the sale of the Karahka and Juurakko wind farms with a combined installed capacity of 190 MW. The firm also offers pro bono assistance to industry bodies such as the Finnish Wind Power Association.
In the solar segment, Marius Af Schultén is assisting Danish solar developer Better Energy with legal matters associated with its expansion into the Finnish solar market. Notably, the firm also advises Vantaa Energy regarding tendering, contractual, permitting and zoning issues concerning the development of the world’s largest underground seasonal thermal energy storage facility.
In its new ESG policy, the firm commits to working with external parties to promote sustainable infrastructure and a sustainable city environment in Helsinki. Part of its pro bono portfolio is also its support of Port 2.0 Oy, a start-up developing an innovative maritime solution which will reduce harmful emissions and electrify ports through renewable energy, through fundraising and gratuitous legal advice.
Hannes Snellman
Member of the UN Global Compact Network, Nordic firm Hannes Snellman counts with a specialised team in Finland which stands out for its work in connection with renewable projects, with a focus on wind power.
In a matter co-led by Maria Landtman, Tapio Teräkivi and Klaus Metsä-Simola, the team is advising state-owned enterprise Metsähallitus (which administers state-owned land and water areas) on the Korsnäs offshore wind power development project consisting of 70-100 turbines with an expected total capacity of 1300 MW. In another recent highlight, Landtman and Caroline Lefort Ahokanto led the team in advising renewable energy developer OX2 in respect of plant construction contracts for a portfolio of onshore wind projects in Finland, with a total capacity of 154 MW. Previously, the firm also acted as counsel to OX2 regarding the construction of a 455 MW wind firm in Lestijärvi, Finland, representing one of the largest wind farms in the country.
The Finnish team often publishes thought leadership pieces relating to sustainability, such as recent articles on renewable hydrogen production and hydrogen investments by Julia Ranta and Meri-Katriina Pyharanta.
Firmwide environmental policies include calculating the firm’s carbon footprint on a yearly basis and compensating for its emissions through a Sidrap wind farm project in Indonesia.
Krogerus
Finnish law firm Krogerus has been at the forefront of most major transactions in the Finnish renewables market in recent years. Co-heads of energy Ville Hailikari and Sami Laine led the advice to Blackrock on its acquisition of a 218 MW wind portfolio, which (at the time of the deal) was the largest wind farm transaction in the Finnish market. They also assisted Helen with the investment into two wind power development projects in Ostrobothnia with an estimated annual electricity production of 1.1 TWh. Other key clients in the sector include VALOREM, Ilmatar Energy and CPC Finland, who all seek the firm’s advice on large-scale wind projects.
Laine also leads the firm’s environmental practice, where clients benefit from his comprehensive knowledge of environmental law and regulations.
Tom Fagernäs is head of the firm’s capital markets group and applies his significant experience advising both issuers and underwriters to green finance deals. For example, Fagernäs and his team advised Lamor Corporation on its IPO and listing on Nasdaq First North Premier Growth Market Finland. The client is a leading provider of environmental solutions, which aims to protect the environment and its ecosystems.
In 2021, the firm’s new premises were granted the WWF Green Office certificate as well as having excellent-level certification in BREEAM. The firm is also committed to reducing and compensating for emissions, using the Green Gas Protocol as a strategic framework.