DLA Piper advises on Nala project

DLA Piper has announced its role in advising Société Générale S.A. as the mandated lead arranger and lender for the financing of a 50MW/100MWh battery energy storage system (BESS) project owned and developed by Nala Renewables. This project stands out as one of the largest of its kind in Finland, aiming to bolster the country’s clean energy infrastructure. Sungrow will supply the advanced battery technology needed for this endeavour, while Trafigura, a prominent player in the global commodities market, will leverage the BESS capacity to enhance its European trading operations.

Leading the cross-border effort was Projects partner Nikhil Markanday, who is part of DLA Piper's Finance practice in London. He was joined by partners Rubayet Choudhury in London and Antti Niemi in Helsinki, alongside legal directors Jacques Camilleri from Edinburgh and Jennifer Jin from London, and other key junior associates from different locations including Panu Punkari and Julio Zhou.

Regarding the importance of this transaction, Nikhil Markanday expressed that “The financing of this landmark project in Finland is testament to the efforts of Nala Renewables. The project will significantly increase the delivery of clean energy across Finland. The transaction is another great example of how our cross-border team is supporting global clients to simplify complex, and strategic, investments and in meeting their clean energy objectives through innovative solutions."

Mike O’Neill, Chief Executive Officer of Nala Renewables, shared his enthusiasm, stating, “We are delighted to be breaking ground on Nala’s first project in Finland, which we see as a strategically important market for BESS in Europe. We are especially pleased to involve Trafigura’s energy trading business in the project, supporting a more resilient and flexible grid in Finland.” He added that “This project is using market leading technology to accelerate the transition to clean energy in Finland – contributing to reserve markets and featuring grid-forming capabilities that enhance overall network stability.”

DLA Piper's International Projects team has recently advised on various notable energy projects, including counsel for Amber Infrastructure and La Caisse regarding Sizewell C, the financing of a USD164 million wind project in Egypt for Infinity Power, and further assistance with multiple energy storage systems and financing across Europe and Africa.