Clifford Chance advised a syndicate of banks and EKF on the PLN 550 million financing of the construction and development of Banie III and Sępopol wind farms

Clifford Chance advised a consortium comprising: the European Bank for Reconstruction and Development and Banco Santander, S.A. as lenders, EKF Denmark’s Export Credit Agency as guarantor for part of the financing granted by Banco Santander, S.A. with Santander Bank Polska S.A. as agent and security agent, in connection with a loan for two SPVs of Energix Renewable Energies Ltd. The loan, in the aggregate amount of PLN 550 million (PLN 275 million granted by EBRD and PLN 275 million granted by Banco Santander) will be used for the construction and development of wind farms in Banie (3rd phase of the project – Banie III) and Sępopol. The total capacity of the wind farms is 125.4 MW, of which 81.4 MW in Banie and 44 MW in Sępopol. The farms are currently under construction – their start-up is planned for 2022.

In the preceding years we provided advice in connection with the previous construction phases of the wind farms in Banie (Banie I and Banie II).

The Clifford Chance team, which worked on the financing under the supervision of Andrzej Stosio (Partner, Co-head of the Warsaw Banking and Finance Department) was led by Michał Jadwisiak (Senior Associate), assisted by Mateusz Ciechomski (Associate), Natalia Karasiewicz (Associate), Piotr Węcławowicz (Associate) and Dominika Wróblewska (Associate).

The due diligence process was conducted by: Paweł Puacz (Counsel, Head of the Energy and Environment Group), Marcin Markowski (Senior Associate) and Izabela Cybulska (Senior Associate).