Norton Rose Fulbright has advised Bank Gospodarstwa Krajowego on financing the construction of a 7-megawatt wind farm sponsored by Budimex.
According to Norton Rose, "Magnolia Energy, a special purpose company of Budimex set up to implement a project for the construction of a wind farm consisting of two turbines with a total capacity of up to 7 megawatts, has obtained financing from Bank Gospodarstwa Krajowego under the project finance formula."
"This is the next stage in the development of Budimex Group's investments in renewable energy sources. The financing is based on a long-term power purchase agreement," the firm announced. "Budimex started investing in renewable energy sources in 2022 – as one of the elements of the Budimex Group's business diversification, alongside foreign markets and electromobility.”
The Norton Rose team included Partner Tomasz Rogalski, Senior Associate Cezary Zawislak, Associates Przemyslaw Piasecki, Michal Rutkowski, and Paula Stepien, and Lawyers Jan Nowjalis, Martyna Korzeniewska, and Bartosz Odziemkowski.