DLA Piper has advised UniCredit Bank Austria as a lender on the financing of the acquisition and the construction of two Lower Austrian wind farms. CMS advised the borrowers, Energie AG Oberosterreich and 4P Envest. The total value of the two projects is EUR 43 million.
The Scharndorf III and Trautmannsdorf-Nord wind farms will provide an overall capacity of 21 MW and produce electricity for approximately 17,000 households. UniCredit Bank Austria financed the project. The sponsors are the Upper Austrian regional energy provider Energie AG Oberosterreich and 4P Envest, a subsidiary of the Puspok group, currently the largest private wind power operator in Austria. The two financiers acquired the project from Raiffeisen Group and now hold 50% of the shares each.
"I am pleased that we were appointed to advise UniCredit Bank Austria on financing these two highly exciting projects. Once again we were able to support the client with our long-standing expertise in combination with our in-depth industry knowledge,” said DLA Piper Partner Christoph Urbanek, who led the firm’s team on the matter. The team also included Senior Associate Lothar Farthofer and Associate Lisa Pocho.