Hogan Lovells advises EIB and LBBW on the financing of four wind farms in Poland

Led by Hamburg partner Carla Luh international law firm Hogan Lovells has advised Landesbank Baden-Württemberg (LBBW) and the European Investment Bank (EIB) on the financing of four wind farms near Poznan in Poland.

EIB and LBBW are providing approximately 42 million Euros each to finance the construction and operation of the four wind farms. LBBW will provide a term loan financing of approximately 42 million Euros plus ancillary tranches of approximately 12.5 million Euros as well as interest and currency hedges. The EIB financing is backed by a guarantee under the European Fund for Strategic Investments.

The four wind farms, which will be developed by German project developer wpd AG, will have a total installed capacity of 102.5 Megawatt to power more than 60.000 households at peak times. The wind farms are currently about to be commissioned; 35 of 38 wind turbines have been installed so far.

Hogan Lovells advised EIB and LBBW on all aspects of the project financing including the due diligence and the finance documentation, together with Dentons for local Polish law issues. 

Carla Luh, Head of Infrastructure, Energy, Resources and Projects in Germany said: 

"We are pleased that we have been able to support Landesbank Baden-Württemberg and the European Investment Bank with our legal expertise in this complex transaction in Poland."

Hogan Lovells Team for EIB and LBBW

Dr. Carla Luh (Partner), Amy Bruland, Marco Weibrecht, Anne Gahleitner, Christian Hermanussen (Associates) (all Finance);

Dr. Christian Knütel (Partner), David Gherdane (Senior Associate) (all Due Diligence).

Dentons Team for EIB and LBBW

Piotr Nerwiński (Managing Counsel), Marta Borowska (Associate) (Banking and Finance);

Agnieszka Kulińska (Partner), Jan Dubiński (Senior Associate), Lena Boczkaja (Associate) (Energy).

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