Energix Renewable Energies Ltd’s EUR127 Million Loan For Two SPVs

Clifford Chance advised a syndicate of banks and EKF on the deal, while WKB advised Energix.

The consortium comprised: the European Bank for Reconstruction and Development and Banco Santander, S.A. as lenders, EKF Denmark’s Export Credit Agency as guarantor for part of the financing granted by Banco Santander, S.A. with Santander Bank Polska S.A. as agent and security agent, in connection with a loan for two SPVs of Energix Renewable Energies Ltd. The loan, in the aggregate amount of PLN 550 million (PLN 275 million granted by EBRD and PLN 275 million granted by Banco Santander) will be used for the construction and development of wind farms in Banie (3rd phase of the project – Banie III) and Sepopol. The total capacity of the wind farms is 125.4 MW, of which 81.4 MW in Banie and 44 MW in Sepopol. The farms are currently under construction – their start-up is planned for 2022.

In the preceding years we provided advice in connection with the previous construction phases of the wind farms in Banie (Banie I and Banie II).

The Clifford Chance team, which worked on the financing under the supervision of Andrzej Stosio (Picture – Partner, Co-head of the Warsaw Banking and Finance Department) was led by Michal Jadwisiak (Senior Associate), assisted by Mateusz Ciechomski (Associate), Natalia Karasiewicz (Associate), Piotr Weclawowicz (Associate) and Dominika Wróblewska (Associate).
The due diligence process was conducted by: Pawel Puacz (Counsel, Head of the Energy and Environment Group), Marcin Markowski (Senior Associate) and Izabela Cybulska (Senior Associate).

WKB’s team consisted of Partners Agnieszka Wiercinska-Kruzewska, Marcin Smolarek, and Maciej Szambelanczyk, Counsels Michal Kalicki, Sergiusz Urban, and Krzysztof Wawrzyniak, Lawyers Aleksandra Nalewajko, Marcin Lorenc, Krzysztof Sikorski, and Mateusz Bak.

Involved fees earner: Mateusz Ciechomski – Clifford Chance; Izabela Cybulska – Clifford Chance; Natalia Karasiewicz – Clifford Chance; Marcin Markowski – Clifford Chance; Pawe? Puacz – Clifford Chance; Andrzej Stosio – Clifford Chance; Piotr W?c?awowicz – Clifford Chance; Dominika Wroblewska – Clifford Chance; Mateusz Bak – Gessel; Micha? Jadwisiak – White & Case; Marcin Lorenc – WKB Wierci?ski Kwieci?ski Baehr; Aleksandra Nalewajko – WKB Wierci?ski Kwieci?ski Baehr; Krzysztof Sikorski – WKB Wierci?ski Kwieci?ski Baehr; Marcin Smolarek – WKB Wierci?ski Kwieci?ski Baehr; Maciej Szambelanczyk – WKB Wierci?ski Kwieci?ski Baehr; Sergiusz Urban – WKB Wierci?ski Kwieci?ski Baehr; Krzysztof Wawrzyniak – WKB Wierci?ski Kwieci?ski Baehr; Agnieszka Wiercinska-Kruzewska – WKB Wierci?ski Kwieci?ski Baehr;

Law Firms: Clifford Chance; Gessel; White & Case; WKB Wierci?ski Kwieci?ski Baehr;

Clients: Banco Santander Sa; EKF Denmark’s Export Credit Agency; Energix Renewable Energies ; European Bank for Reconstruction and Development; Santander Bank Polska S.A.;

Federica Tiefenthaler

Author: Federica Tiefenthaler