DIF Capital Partners has received funding of 77 million euros from the European Bank for Reconstruction and Development, DNB Bank ASA and EKF for the development of two onshore wind farms totaling 63 MW in Poland.
The funds will support DIF in the acquisition, construction and operation of 40 MW from Grajewo in the municipality of Grajewo and 23.1 MW from Sulmierzyce in the Krotoszyn district of the municipality of Sulmierzyce.
The two projects are expected to generate more than 182.4 gigawatt hours of electricity per year and will contribute to carbon emissions savings of nearly 140,000 tonnes per year.
The EBRD’s share in the financing amounts to 38.9 million euros and is matched to 50-50 by the DNB, with the EKF guaranteeing 70% of the long-term loan granted by the bank.
The European Bank for Reconstruction and Development (EBRD), DNB Bank ASA and EKF have all been advised by global law firm Dentons.
The company’s legal advice involved full support to lenders in the preparation, negotiation and execution of financial documents, Dentons said.
The financing documents were governed by English and Polish law and included a hedging contract. This is another renewable energy project finance transaction in which Dentons advised the EBRD, DNB and EKF, previously as members of other lender clubs, the company added. .
Piotr Nerwiński, partner of Dentons’ banking and finance team in Warsaw, said: “It has been a pleasure and honor to be part of this exceptional project and to work again with institutions such as EBRD, DNB and EKF on the financing of a green energy project in Poland.
Justyna Jamroży, Senior Partner of the Dentons Warsaw team, said: “The support for the financial parts of this onshore wind farm project has been extremely satisfying and we are happy to have been able to work on another investment to reduce emissions. of CO2 in Poland. “