Clifford Chance advised a consortium of banks composed of EBRD, ING Bank Śląski, mBank and Santander Bank Polska in connection with a term and revolving facility in the aggregate amount of PLN 480 million granted to Polenergia to finance the construction of a 121 MW wind farm in Dębsk, which will take advantage of support under the auction system, as well as to finance the VAT costs.
It is the largest investment in the Polenergia Group’s history and will increase Polenergia’s power in the onshore wind farm segment by almost 50%. The farm will be producing electricity sufficient to supply 183,000 households.
The implementation of the project is an important step in Poland’s green transformation and will enable a reduction in emissions of CO2 by as much as 318,000 tonnes, SO2 by 318 tonnes, NOx by 318 tonnes, CO by 106 tonnes and suspended matter by 18 tonnes.
The legal advice for the transaction was coordinated by Michał Jadwisiak (Senior Associate), with partners Andrzej Stosio and Jared Grubb supervising the transaction overall. The Clifford Chance team also included Paweł Puacz (Counsel), Maksymilian Jarząbek (Senior Associate), Piotr Węcławowicz (Associate) and Mateusz Ciechomski (Junior Associate).
