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White & Case Advises Lenders on Financing of Polish Wind Farm

Global law firm White & Case LLP has advised Norddeutsche Landesbank - Girozentrale (NORD/LB) as mandated lead arranger and lender, and Denmark's export credit agency EKF on the financing of the construction and operation of 60MW Janikowo wind farm in Poland.

Janikowo is a joint venture between Poland's Windbud and Eurowind Energy and the first large international project backed by EKF for Danish developer Eurowind, which is expanding its activities in the Polish market. The wind farm has been granted a 15-year Contract for Difference through the Polish auction system and the commissioning of the first turbines is expected to take place in July.

The financing is based on a tailor-made and innovative solution involving term loans, VAT and debt service reserve facilities, KfW refinancing loans and ECA cover.

White & Case recently advised Nord/LB on the construction financing of the subsidy-free 64MW Witnica project, the largest solar project in Poland.

The White & Case team which advised on the transaction was led by partner Florian Degenhardt (Hamburg) included partner Grzegorz Abram (Warsaw), counsel Beate Treibmann (Hamburg), local partners Matthias Grigoleit (Hamburg) and Jakub Kutzmann (Warsaw) and associates Martin Riederer, Ioana Marinescu (both Hamburg), Magdalena Kalińska, Kinga Duszyk, Radomir Szewczuk and Roksana Kaluzna-Balazy (all Warsaw).

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