Clifford Chance has advised mBank on a PLN 150 million loan to Polenergia granted for the financing of the VAT and costs of construction of the Kostomloty wind farm in Poland.
Polenergia is a Warsaw-based producer and distributor of electric power from conventional and renewable sources. According to Clifford Chance, the Kostomloty wind farm’s planned capacity is 27 megawatts and the estimated annual production will be approximately 82 gigawatt hours.
Poland's mBank was founded in 1986 (under a different name), and it provides comprehensive services in the fields of retail, company, and corporate and private banking.
Clifford Chance's team included Partner Andrzej Stosio, Counsel Pawel Puacz, Senior Associate Michal Jadwisiak, Associate Piotr Weclawowicz, and Junior Associate Mateusz Ciechomski.
Clifford Chance did not reply to an inquiry about the deal.
Editor's note: After this article was published, Allen & Overy informed CEE Legal Matters that it had advised Polenergia on the deal. The firm's team included Partner Tomasz Kawczynski, Associate Karolina Piorkowska-Grynkiewicz, and Junior Associate Olga Mrowiec.