White & Case has advised Octopus Renewables Infrastructure Trust on a conditional agreement to sell the Krzecin and Kuslin onshore wind farms in Poland to Orlen Wind 3 and refinance the existing indebtedness of the project companies.
Orlen Wind 3 is an affiliate of the public Polish multi-energy company Orlen. The transaction remains contingent on regulatory approval.
According to White & Case, “ORIT, an investment trust listed on the London Stock Exchange focused on renewable energy assets across Europe, the UK, and Australia, expects to receive net proceeds of between PLN 470 million and PLN 490 million after deducting debt and hedging costs. Orlen has agreed to provide a loan to repay the existing bank debt secured against the Krzecin and Kuslin wind farms, which have a combined capacity of 59 megawatts.”
In 2021, White & Case advised ORIT on the acquisition of the Krzecin and Kuslin wind farms (as reported by CEE Legal Matters on October 18, 2021).
The White & Case team included Warsaw-based Partners Maciej Zalewski and Grzegorz Abram and Associates Michał Perdjon, Sylwia Zwolan, Aleksandra Rajek, Joanna Misztal-Dzitko, and Mateusz Dyduch.
White & Case did not respond to our inquiry on the matter.