Baker McKenzie has advised Burgenland Energie Group on structuring and implementing a EUR 1.3 billion portfolio project financing for renewable energy expansion. Binder Groesswang, working with Hogan Lovells, advised the banks.
Burgenland Energie Group is an energy provider in Burgenland, Austria.
According to Baker McKenzie, the transaction involved corporate restructuring and equity financing – marking the entry of the state of Burgenland as a majority investor in an indirect subsidiary of Burgenland Energie as part of a joint venture. In parallel, financing was secured from financial institutions including the European Investment Bank, Erste Bank, Landesbank Baden-Wuerttemberg, Raiffeisen Bank International, UniCredit, and institutional investors such as Wiener Staedtische and Ampega, which provided up to EUR 500 million in debt capital in the first round.
Moreover, Baker McKenzie reports that the debt will fund the construction of wind and photovoltaic projects in Burgenland, with the first phase targeting over 700 megawatts and future stages planned to reach up to 2,000 megawatts, supported by additional credit lines of approximately EUR 725 million.
The Baker McKenzie team included Austria-based Partners Eva-Maria Segur-Cabanac, Robert Wippel, Andreas Traugott, and Georg Diwok, Counsels Philipp Stanek, Edmund Schuster, and Wolfgang Eigner, and Associates Filip Peric, Clara Fercsak, Sophie Schubert, Balint Ozsvar, and Elias Parzer as well as further team members in London and Frankfurt.
The Binder Groesswang team included Managing Partner Stefan Tiefenthaler, Partners Regina Kroell and Mona Holzgruber, Attorney at Law Mathias Drescher, and Associates Philipp Schermer, David Schneebauer, Tobias Haralter, and Anian Gruber.
