Global law firm Clifford Chance has advised EBRD, BGK (Polish development bank) and PKO Bank Polski on granting a EUR 46 million and RON 56 million financing package to support the development, construction and operation of a 127MW / 254MWh standalone battery energy storage system (BESS) project in Scornicești, Romania, developed by R.Power, a leading European independent power producer. The project is one of the first large-scale standalone battery storage assets in Romania and is currently under construction, with operations expected to commence at the turn of 2026 and 2027.
The financing package includes up to EUR 44 million provided by the European Bank for Reconstruction and Development (EBRD) on a non-recourse project finance basis, alongside a bank guarantee facility from Poland’s development bank, BGK and a VAT facility granted by PKO Bank Polski. Part of the EBRD financing will be supported by InvestEU first loss guarantee. PKO Bank Polski acted as account bank in the transaction while Wilmington Trust (London) Limited acted as security agent.
Clifford Chance advised the Banks on all aspects of the transaction, drawing on its expertise in energy transition and infrastructure financing across Central and Eastern Europe. The cross-border Clifford Chance team was led from Warsaw by Maksymilian Jarząbek (Counsel) and supervised by Andrzej Stosio (Partner) and Andreea Sisman (Partner). The Warsaw team who worked on the financing documentation also included Artur Gładysz (Senior Associate), Bartosz Zieliński (Senior Associate), Mateusz Leleno (Associate), Natalia Zań (Associate) and Filip Bojara (Trainee Lawyer).
The Bucharest team who coordinated the due diligence process and advised on all Romanian law aspects was led by Adelina Seserman (Senior Associate), supervised by Andreea Sisman (Partner) and included also Diana Borcean (Senior Associate), and Georgiana Cupaș (Associate).
Paweł Puacz (Partner), Anna Pawłowska (Counsel), and Miłosz Bukowiec (Associate) advised on selected due diligence and energy law aspects of the transaction.
Dutch law advice was provided by Rody Mettler (Trainee Lawyer), Martine Trip-Meijboom (Senior Associate) and Brittany Freling (Associate), under the supervision of Folko de Vries (Partner).
