Clifford Chance has advised sustainable heat supplier Eteck on the EUR 225 million financing of a portfolio of sustainable heating systems to be provided by Rabobank, ING, ASN Bank and ABN AMRO, to further strengthen its position on the sustainable heating market and to increase its impact on the thermal energy transition.
Eteck strives for the largest possible impact on decarbonising the heat and cooling demand in the Netherlands. With more than 250 projects in residential construction and commercial real estate with a total of almost 65,000 (housing equivalent) end users under contract, Eteck is the largest supplier of sustainable local heating and cooling in the Netherlands.
The agreement concerns a refinancing of Eteck’s existing projects, a construction financing for the realisation of current new construction and renovation projects, and a growth financing for future heat projects in both new construction and existing construction. More information here.
This transaction builds on Clifford Chance’s market-leading project finance practice and sector expertise in renewable energy and green infrastructure transactions. The team has a great record in acting as lead structuring and drafting counsel for large complicated portfolio financings, bringing growth ambitions of companies to the next level. The Clifford Chance team consisted of Hein Tonnaer, Nanette Rutgers, Philip Walsh, Rutger Dekker, Lisa Ye, Wouter Fonteijn, Daniela Chilkevitsh, Mark-Jan Arends, Laura Stegeman and Regan Turner.
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