Bird & Bird advises Obton and its group companies on financing the acquisition of 51 photovoltaic farms in Poland of a total capacity of 46 MW

01-2021

Bird & Bird advises Obton and its group companies on financing the acquisition of 51 photovoltaic farms in Poland of a total capacity of 46 MW

Bird & Bird’s Warsaw Financing Transactions team recently had the pleasure of advising Obton A/S (a Danish solar investor being one of Europe’s top ten largest providers of investments in renewable solar energy) on the financing of the acquisition of 51 photovoltaic farms in Poland, each with a capacity of up to 1 MW, and of a total capacity of 46 MW. The PV farms were acquired from a leading global player in the areas of development and construction of photovoltaic projects and solar module manufacturing.

This was a complex cross-border financing provided by KfW IPEX-Bank GmbH, one of the most prestigious German banks which support environmental and climate protection projects worldwide. This financing was KfW IPEX-Bank’s first transaction in Poland’s renewable energies market, and one of the largest cross-border financings of PV farms in Poland. This transaction is also said to be the first of several follow-up projects in the Polish market. KfW IPEX-Bank was advised by Clifford Chance.

In this project Bird & Bird’s team was led by Maciej Georg (Counsel), Head of the Financing Transactions team in Warsaw, and supported by Olga Koszewska (Senior Associate), Dr Krzysztof Szulc (Associate) and Jakub Leszczyński (Junior Associate). On M&A aspects of this transaction, Obton was advised by Rafał Dziedzic (Partner at Bird & Bird’s Warsaw Corporate practice). Bird & Bird’s Warsaw Financing Transactions team was also supported by Ted Rosenbaum (Senior Associate) from Bird & Bird’s Copenhagen office and Sebastian Bergenthal (Counsel) from Bird & Bird’s Frankfurt office. Special thanks extended also to our great alumni from our Energy practice, Andrzej Nentwig and Aleksandra Kurecka, for their support in this project.