Clifford Chance advises Afcon Renewable Energy on the financing of two photovoltaic plants

Global law firm Clifford Chance advised the sponsor, Afcon Renewable Energy, on the financing of the construction and operation of two neighbouring photovoltaic (PV) plants, with a total capacity of 100 MWp, under a single special purpose vehicle (SPV) located in Grabno, Lubuskie Voivodeship. The investment and its financing are structured to allow for future expansion, including additional PV capacity and battery energy storage systems (BESS). The financing package comprised an investment loan, VAT loan, and debt service reserve facilities, and included CfD auction and GCA bank guarantee lines provided by Bank Millennium and PKO Bank Polski.