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Dentons Advises EBRD and Eiffel on EUR 45 Million Loan for PL-Sun Photovoltaic Projects in Poland

Dentons Advises EBRD and Eiffel on EUR 45 Million Loan for PL-Sun Photovoltaic Projects in Poland

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Dentons has advised the EBRD and the Eiffel Investment Group on a bridge financing loan of EUR 45 million to support the construction and operation of 16 PL-Sun photovoltaic power plants with a total installed capacity of 114.7 megawatts. Wardynski & Partners reportedly advised PL-Sun.

PL-Sun is a holding company incorporated in Poland.

According to Dentons, "the loan will consist of equal contributions of EUR 22.5 million from each institution – it will finance the construction of a portfolio of 16 solar photovoltaic power plants with a total installed capacity of 114.7 megawatts across Poland. The plants are expected to produce a total of 122.5 gigawatt-hours of electricity annually and contribute to the reduction of carbon dioxide emissions by 88,000 tons per year."

The Dentons team included Partners Piotr Nerwinski, Tomasz Zwolinski, and Christian Schnell, Senior Associates Jakub Walawski and Joanna Swiostek, and Associates Malgorzata Czarnecka and Jakub Olejniczak.

Editor's Note: After this article was published, Wardynski & Partners confirmed it had advised the borrowers: PL-Sun is owned and sponsored by Lithuanian closed-end investment company Atsinaujinančios Energetikos Investicijos, which, in turn, is managed by Lords LB Asset Management. AEI currently operates a portfolio of around 250 megawatts in Poland and Lithuania. The firm's team included Partner Lukasz Szegda, Counsel Konrad Werner, and Associate Patryk Jackiewicz.

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