Dentons has advised AP Pension, one of Denmark’s largest pension funds, on the financing of Better Energy’s portfolio of five solar parks across Poland (Polanów, Postomino, Nidzica, Helenowo, Krapkowice) with a combined annual production capacity of 237 MW. The €65 million loan will fund one of the largest investments in green energy in Poland.
The solar parks are complete, with the majority grid-connected and producing clean energy for the Polish market. The expected annual production capacity from the parks has the potential to generate enough electricity for 120,000 Polish households while reducing emissions by 186,000 tons of CO2.
Dentons advised AP Pension on negotiating and executing finance documents and assisted in relation to renewable energy regulations.
“We are pleased to see the growing interest of private debt providers and investors in the financing of Polish renewables. Working with AP Pension on Better Energy’s solar projects was truly gratifying. All parties strived to achieve the goals of the transaction in order to help drive the energy transition in Poland”, said Piotr Nerwiński, partner and Co-head of Dentons’ Banking and Finance practice in Warsaw.
Piotr Nerwiński supervised the transaction with assistance from Katarzyna Kaptur (associate). Zbigniew Stasiak, managing counsel in the Energy and Natural Resources practice, advised on regulatory matters.
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