Global law firm Dentons advised the European Bank for Reconstruction and Development (EBRD), Norway’s largest financial services group DNB ASA and EKF, Denmark’s Export Credit Agency, on the financing granted to Polish subsidiaries of DIF Capital Partners for the acquisition, development and operation of the Grajewo and Sulmierzyce wind farms, located in Poland and with a total capacity of 63.1 megawatts (MW). EBRD’s share in the financing totals approximately 38.9 million euros and is matched 50-50 by DNB, with EKF providing a guarantee for 70 per cent of the long-term loan granted by the bank.
“It was a pleasure and honour to have been part of this outstanding project and to work again with such institutions as EBRD, DNB and EKF on the financing of a green energy project in Poland,” said Piotr Nerwiński, partner in Dentons’ Banking and Finance team in Warsaw, who supervised the transaction.
“Supporting the financing parties on this onshore wind farms project was extremely satisfactory and we are happy we were able to work on another investment aimed at reducing CO2 emissions in Poland,” added Justyna Jamroży, senior associate in the Warsaw team.
The Grajewo and Sulmierzyce wind farm projects, with a capacity of 40 MW and 23.1 MW respectively, are expected to generate more than 182.4 gigawatt-hours (GWh) of renewable zero-carbon electricity a year, leading to carbon emissions savings of almost 140,000 tons per year, thus contributing to climate change mitigation in Poland.