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Cobalt Advises NORD/LB and Swedbank on EUR 87 Million Financing for Aidu Wind Park

Estonia
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Cobalt, working with Watson Farley & Williams, has advised NORD/LB and Swedbank on the EUR 87 million financing for Aidu Wind Park’s development of 67.5 megawatts of the 75-megawatt Aidu wind farm in Estonia.

NORD/LB is a German commercial bank.

Swedbank Estonia is the largest bank in Estonia.

According to Cobalt, “the carbon-free electricity generated by the wind farm can meet the energy needs of more than 40,000 households.”

“The Aidu Wind Farm will help enable Estonia to deliver its ambitious renewable energy targets, and we are delighted to support the Sonajalg family and Dirkshof in the country’s journey to net zero,” commented NORD/LB Head of Energy Origination Europe Niels Jakeman.

The Cobalt team included Partners Marina Kotkas and Aivar Taro, Specialist Counsel Mart Blondal, Senior Associates Sandra Sillaots, Helen Sool, and Christine Magi, Junior Associate Chris Oliver Rahumagi, and Assistant Lawyers Tom Suiste and Joosep Lang.

Cobalt did not respond to our inquiry on the matter.

Cobalt at a Glance

COBALT is a closely integrated alliance of top-tier law offices across the Baltics, uniting more than 250 attorneys and support staff. During 25 years of experience, we have become a strategic partner to our clients in handling both daily matters and complex large–scale transactions and disputes.

The firm’s broad spectrum of expertise and established position as the market leader gives a comprehensive basis for providing full-service business law advice.

Top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups are among our clients. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 7 times receiving Chambers Europe, IFLR, The Lawyer and Mergermarket awards, and we are regularly listed amongst the top-performing M&A legal advisors in the Bloomberg, Refinitiv and Mergermarket deal tables. Recognized as the No.1 Lithuanian law firm in the Prospera Law Firm Review 2021 and No. 1 law firm in Latvia in 2022, 2020, 2019, and 2018 client satisfaction surveys. We were recognized as a Baltic-wide Law Firm of the Year at the 2022 Chambers Europe Awards ceremony and named the Baltic States Tax Firm of the Year and Pro Bono Firm of the Year at the annual ITR EMEA Tax Awards 2021 ceremony. 

More information on COBALT can be found at www.cobalt.legal.