DZP advises Norddeutsche Landesbank Girozentrale on financing five wind farm projects in Poland

DZP has advised Norddeutsche Landesbank Girozentrale, one of the biggest commercial banks in Germany, on providing bridge financing to Polish European Energy Group companies to develop five wind farm projects in Poland.

The projects are owned by European Energy, a Danish group operating in 11 countries. It constructs wind and solar farms as well as large-scale green energy storage. It sells green power to large corporations offering attractive investment opportunities for institutional investors looking to invest in green, long-term, low-risk energy assets.

Our involvement in this project included work on the structure of the financing and of the cash flows in the borrower’s group (cash flows between the borrower and five obligors, i.e. the project companies), negotiating and establishing the Polish security package, energy regulatory advice and the restructuring of shareholder loans.

The client was advised by a mutlidisciplinary DZP team led by Magdalena Skowrońska, Partner in the Capital Markets and Financial Institutions Practice, and Rafał Hajduk, Partner in the Infrastructure and Energy Practice, and comprising: Tomasz Kalicki, Senior Associate from Capital Markets and Financial Institutions Practice, Małgorzata Wężyk, Senior Associate, Anna Konopka, Associate, Natalia Plaskiewicz, Associate, and Michał Pytkowski, Associate from the Infrastructure and Energy Practice, and Grzegorz Sprawka, Senior Tax Manager from the Tax Practice.