Sat, Sep
38 New Articles

Clifford Chance Advises ING Bank Slaski on PLN 44.5 Million Financing of Polish Solar Energy Farms

Clifford Chance Advises ING Bank Slaski on PLN 44.5 Million Financing of Polish Solar Energy Farms

  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Clifford Chance has advised ING Bank Slaski S.A. on a facility agreement for PLN 44.5 million financing of the PV farms under construction by Polenergia Farma Wiatrowa 17 sp. z o.o., a subsidiary of the Polenergia private energy group in Poland.

The financing will allow PFW 17 to develop PV projects with a total capacity of up to 20 megawatts. According to Clifford Chance, this is one of the first transactions on the Polish market consisting of the financing and refinancing of PV farms in an auction-based system.

Under the agreement, ING Bank Slaski will grant Polenergia Farma Wiatrowa 17 a loan of up to PLN 15.5 million for, among other things, refinancing of the construction costs of eight PV farms with a total capacity of approximately 8 megawatts located in the Lubuskie Voivodeship in the Sulechow municipality of Poland.

Additionally, the agreement provides financing of the construction of additional PV farms with a total capacity of up to 12 megawatts and for VAT financing for PLN 29 million, subject to, among other things, winning the RES auction and making the decision to invest.

The Clifford Chance team consisted of Partner Andrzej Stosio, Counsel Pawel Puacz, Seniors Associate Michal Jadwisiak, and Associates Piotr Weclawowicz and Zuzanna Potoczna.

Poland Knowledge Partner

Penteris is a law firm combining in-depth expertise, robust advice, and a pan-regional reach.

We provide full-service business law advice within five sector lines: Energy & natural resources, Financial institutions, Private equity, Real estate, and Retail.

On the market since 2001, we were originally part of a Scandinavian law firm and then a founding office of a pan-Baltic organisation.

Our attorneys will work closely with you, providing you with the hard skills, service-minded know-how, and legal expertise that will keep you secure while you lead the market.

Our skills are at your disposal:

  • Expertise and passion wrapped up in a personal service
  • Close-knit team providing a multidisciplinary approach
  • Ability to listen, understand, and deliver for the tangible benefit of the client.

The team continues to be internationally recognised year on year, most recently by Chambers Global 2019, Chambers Europe 2019, and The Legal 500 EMEA 2019.

Firm's website: https://penteris.com

Our Latest Issue