MB2 North’s Project Bond Financing

White & Case has advised MEAG and institutional investors on the first fully merchant project bond financing for the Swedish wind farm MB2 North.

The wind farm MB2 North is located in the world’s biggest onshore wind farm cluster Markbygden in Northern Sweden.

The wind farm MB2 North, owned by renewable energy funds advised by the investment manager Energy Infrastructure Partners AG (EIP), has recently started operating with a capacity of 253MW. EIP acquired the wind farm from the developer Enercon in an initial all-equity acquisition. The long-term project bond is secured by a customary project finance security package and has been subscribed by a group of ten institutional investors, including the MEAG Infrastructure Debt Fund II advised by MEAG.

Headquartered in Munich, and with our global offices in New York and Hong Kong, MEAG offers institutional as well as private investors access to its investment expertise in all major asset classes and solutions geared to growth trends.

The White & Case team which advised on the transaction was led by partner Florian Degenhardt (Picture; Hamburg) and included partner Magnus Wennerhorn (Stockholm), local partner Matthias Grigoleit (Hamburg), counsel Beate Treibmann (Hamburg) and associates Martin Riederer (Hamburg), Max Axelsson, Filip Westling, Minna Horwitz (all Stockholm).

Involved fees earner: Max Axelsson – White & Case; Florian Degenhardt – White & Case; Matthias Grigoleit – White & Case; Minna Horwitz – White & Case; Martin Riederer – White & Case; Beate Treibmann – White & Case; Magnus Wennerhorn – White & Case; Filip Westling – White & Case;

Law Firms: White & Case;

Clients: MEAG MUNICH ERGO AssetManagement GmbH;