Clifford Chance advised on the financing of a wind farm located in Smiltene Municipality, Latvia

Global law firm Clifford Chance advised the lenders (Nordic Investment Bank, European Bank for Reconstruction and Development, and Luminor Bank AS) in connection with a project finance term loan and a letter of credit loan of up to EUR 92 million granted to Sabiedrība ar ierobežotu atbildību WPR2 (SIA WPR2) for the construction and operation of a wind farm located in Smiltene Municipality, Latvia. Taaleri Energia’s SolarWind III Fund and Lords LB Asset Management acted as sponsors and joint investors in the project. The Smiltene wind farm will have a capacity of 112 MW and, when operational, will almost double Latvia’s installed onshore wind capacity from its current level.

The Clifford Chance team advising on the English law aspects of the transaction was led by Mateusz Chruściak (Counsel) and Aleksandra Białyszewska (Senior Associate) under the supervision of Andrzej Stosio (Partner). The team also included Mateusz Chmura (Counsel), Joanna Korycińska (Associate) and Maciej Kujawa (Associate).