DZP supports the development of wind farm projects in Poland

Our law firm is involved in projects that support the use of renewable energy sources. In the last quarter of 2021, we took part in new important RES financing transactions.

We have advised Norddeutsche Landesbank Girozentrale which is one of the biggest commercial banks in Germany, active in the renewable energy, on the project financing to develop five wind farm projects (farms will generate energy with a combined capacity of 44.675 MW). The projects located in north coast of Poland are owned by the Danish developer European Energy, which operates in eleven countries all over the world.

Our involvement in this project included working on the structure of the financing and cash flows in the borrower’s group, drafting and negotiating Polish related parts of the facilities agreement, negotiating the Polish security package and providing energy regulatory advice.

DZP team worked closely throughout the transaction with the correspondent German part of Watson Farley & Williams, one of the leading legal advisers for cross-border finance work in the renewable energy space in Europe.

In respect of renewable energy financing we have recently advised also EB – Sustainable Investment Management GmbH on mezzanine (junior) loan for the construction of the Zalesie Wind Farm with a capacity of 25 MW.

Our involvement in this project included working on the structure of the junior financing, negotiating Polish related parts of the junior loan agreement and intercreditor agreement, negotiating the Polish security package and providing energy regulatory advice.

The clients were advised by a multidisciplinary 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 of, amongst others, Tomasz Kalicki, Senior Associate from Capital Markets and Financial Institutions Practice.