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White & Case Advises NORD/LB and EKF on Financing of Italian Wind Farm

Global law firm White & Case LLP has advised Norddeutsche Landesbank - Girozentrale - (NORD/LB) as mandated lead arranger and lender and EKF Denmark's Export Credit Agency (EKF) on the financing of the construction and operation of wind farm Eolica San Lupo in Italy. 

After EKF joined the financing in May, the EKF covered financing is now in place. The financing includes a guarantee issued by EKF and refinancing by KfW Bankengruppe. The wind farm will be realised by BayWa r.e. renewable energy GmbH (BayWa r.e.), a subsidiary of BayWa AG, and is expected to go into operation no later than mid-July of this year. With 16 Vestas V117 turbines, the wind farm in the Campania region will have an output of 48 MW.

The wind farm is part of a 66 MW wind farm portfolio in Italy with a total value of more than €100 million, which includes the Arlena and Tessennano wind farms in Lazio and Campania that were commissioned in October 2018 and financed by NORD/LB as well. 

Eolica San Lupo will be one of the most powerful wind farms in Italy and the amount of green electricity it will generate will support Italy's contribution to the overarching EU target of 32 percent renewable energy generation by 2030.

White & Case previously advised on the financings of the Italian wind farms Arlena and Tessennano, Lacedonia and Melfi, each of them developed by BayWa r.e.

The White & Case team in Hamburg which advised on the transaction was led by partner Florian Degenhardt and included counsel Beate Treibmann, local partner Matthias Grigoleit and associate Max Sergelius. 

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