White & Case LLP - News - White & Case Advises the European Investment Bank (EIB) on Largest Ever Offshore Wind Financing

Services	Sectors
Antitrust Asset Finance Banking Canada Capital Markets Climate Change Commercial Litigation Data Privacy Employment & Benefits Financial Restructuring and Insolvency India Indonesia Intellectual Property International Arbitration International Trade Israel Korea Latin America Mergers & Acquisitions Private Clients Pro Bono Project Finance Sovereign Wealth Funds Sovereigns Spain Taiwan Tax White Collar	Communications and Media Construction Environmental Funds Islamic Finance Mining and Metals Oil & Gas Pharmaceuticals and Healthcare Power Real Estate Sourcing & Technology Transactions

North America	Latin America	Europe		Asia	Middle East/Africa
Los Angeles Miami New York Silicon Valley Washington, DC	Mexico City Monterrey São Paulo	Almaty Ankara Berlin Bratislava Brussels Bucharest Budapest Düsseldorf Frankfurt Geneva Hamburg	Helsinki Istanbul London Milan Moscow Munich Paris Prague Stockholm Warsaw	Beijing Hong Kong Shanghai Singapore Tokyo	Abu Dhabi Doha Johannesburg Riyadh

White & Case Advises the European Investment Bank (EIB) on Largest Ever Offshore Wind Financing
Over €1 billion financing for construction and operation of 325 MW offshore wind-farm

London, Brussels, December 15, 2010 ... Global law firm White & Case LLP advised the European Investment Bank ("EIB") on its provision of €450 million to C-Power NV as part of a €1,007 million financing for the construction of the second and third phases of a 325 MW offshore wind-farm in the North Sea, off the Belgian coast. The remainder of the financing package was provided by seven commercial lenders (ASN Bank, Commerzbank, Dexia, KBC, KfW IPEX-Bank, Rabobank and Société Générale) and two export credit agencies (Euler-Hermes of Germany and Eksport Kredit Fonden of Denmark).

The C-Power financing represents a number of firsts: it is the largest financing to be closed in the offshore energy sector; the first transaction where banks have financed the installation and operation of 'new generation' 6 MW offshore wind-turbines; and it has the longest tenure of any financing ever concluded in the offshore wind sector to date. The project company itself represents a trans-European co-operation between EDF of France, RWE of Germany and a consortium of Belgian shareholders.

"We're seeing steady growth in the scale of renewable energy financings as the market evolves, and we expect that a deal of this size and complexity will lay down a marker for future transactions," comments Gisèle Rosselle, partner, White & Case.

The C-Power transaction represents the second occasion within the last eighteen months that White & Case has advised EIB on a major offshore energy project. In 2009, White & Case advised EIB on its provision of € 300 million towards the financing of the first phase of the Belwind offshore wind-farm, also off the coast of Belgium. The Belwind financing was the first non-recourse financing of a wind-farm since the beginning of the credit crisis. "Obviously, we're delighted to have assisted EIB again in a sector that is growing in importance as EU member states seek to fulfil their obligations to generate energy from renewable sources", added Euan Pinkerton, partner-elect, White & Case.

The White & Case team was led by partner Gisèle Rosselle in the Brussels office and by partner-elect Euan Pinkerton in the London office, with assistance from partner Mark Castillo-Bernaus in London. Also advising on the transaction were associates Ferdinand Brughmans, Sofie Heremans and Andries de Smet (Brussels) and associates Elisa Carneiro de Montães and Caroline Montier (London).

About White & Case
White & Case LLP is a leading global law firm with lawyers in 36 offices in 25 countries. Among the first US-based law firms to establish a truly global presence, we provide counsel and representation in virtually every area of law that affects cross-border business. Our clients value both the breadth of our global network and the depth of our US, English and local law capabilities in each of our regions and rely on us for their complex cross-border transactions, as well as their representation in arbitration and litigation proceedings.

Contact:
Jane Jardine
Media Relations
+44 (0) 207 532 2844

	Press Releases
Expertise Project Finance Lawyers Gisèle Rosselle Euan Pinkerton Mark Castillo-Bernaus Ferdinand Brughmans Andries De Smet Elisa Carneiro de Moraes Locations London Brussels	White & Case Advises the European Investment Bank (EIB) on Largest Ever Offshore Wind Financing Over €1 billion financing for construction and operation of 325 MW offshore wind-farm London, Brussels, December 15, 2010 ... Global law firm White & Case LLP advised the European Investment Bank ("EIB") on its provision of €450 million to C-Power NV as part of a €1,007 million financing for the construction of the second and third phases of a 325 MW offshore wind-farm in the North Sea, off the Belgian coast. The remainder of the financing package was provided by seven commercial lenders (ASN Bank, Commerzbank, Dexia, KBC, KfW IPEX-Bank, Rabobank and Société Générale) and two export credit agencies (Euler-Hermes of Germany and Eksport Kredit Fonden of Denmark). The C-Power financing represents a number of firsts: it is the largest financing to be closed in the offshore energy sector; the first transaction where banks have financed the installation and operation of 'new generation' 6 MW offshore wind-turbines; and it has the longest tenure of any financing ever concluded in the offshore wind sector to date. The project company itself represents a trans-European co-operation between EDF of France, RWE of Germany and a consortium of Belgian shareholders. "We're seeing steady growth in the scale of renewable energy financings as the market evolves, and we expect that a deal of this size and complexity will lay down a marker for future transactions," comments Gisèle Rosselle, partner, White & Case. The C-Power transaction represents the second occasion within the last eighteen months that White & Case has advised EIB on a major offshore energy project. In 2009, White & Case advised EIB on its provision of € 300 million towards the financing of the first phase of the Belwind offshore wind-farm, also off the coast of Belgium. The Belwind financing was the first non-recourse financing of a wind-farm since the beginning of the credit crisis. "Obviously, we're delighted to have assisted EIB again in a sector that is growing in importance as EU member states seek to fulfil their obligations to generate energy from renewable sources", added Euan Pinkerton, partner-elect, White & Case. The White & Case team was led by partner Gisèle Rosselle in the Brussels office and by partner-elect Euan Pinkerton in the London office, with assistance from partner Mark Castillo-Bernaus in London. Also advising on the transaction were associates Ferdinand Brughmans, Sofie Heremans and Andries de Smet (Brussels) and associates Elisa Carneiro de Montães and Caroline Montier (London). About White & Case White & Case LLP is a leading global law firm with lawyers in 36 offices in 25 countries. Among the first US-based law firms to establish a truly global presence, we provide counsel and representation in virtually every area of law that affects cross-border business. Our clients value both the breadth of our global network and the depth of our US, English and local law capabilities in each of our regions and rely on us for their complex cross-border transactions, as well as their representation in arbitration and litigation proceedings. Contact: Jane Jardine Media Relations +44 (0) 207 532 2844