Norton Rose Fulbright has advised PGE Polska Grupa Energetyczna on a PLN 2.3 billion ESG financing from a banking consortium. DLA Piper advised the banks.
The banking consortium involved in the approximately EUR 490 million financing for PGE included PKO Bank Polski, Bank Polska Kasa Opieki, Bank of China (Europe) branch in Poland, Industrial and Commercial Bank of China (Europe) branch in Poland, Alior Bank, and Santander Bank Polska.
PGE Polska Grupa Energetyczna is a state-owned public power company listed on the Warsaw Stock Exchange.
According to Norton Rose, “the funds will be used for current operations, including the implementation of investments in line with the PGE Group’s long-term strategy to reduce greenhouse gas emissions and increase electricity generation from renewable sources. The cost of financing will depend on the ESG rating assigned to PGE by a specialized agency.”
The Norton Rose team included Partner Tomasz Rogalski, Senior Associate Joanna Braciszewska-Szarapa, and Associate Karolina Majcher.
The DLA Piper team included Senior Associate Aleksander Haleniuk and Junior Associate Jakub Wiatrzyk.
