Norton Rose Fulbright advised SUSI Partners and its portfolio company Luneos Green Energy on a long-term senior financing for renewables portfolio made available by P Capital Partners

Global law firm Norton Rose Fulbright advised SUSI Partners, acting on behalf of SUSI Energy Transition Fund (SETF) on raising an Euro-denominated senior debt package for a fully merchant 167 MW Polish solar PV and onshore wind portfolio made available by P Capital Partners (PCP), a Swedish private credit provider, through its Transition fund.

All projects were brought to ready-to-build stage by SETF portfolio company Luneos Green Energy (LGE), a joint venture between SUSI Partners and leading Polish energy-as-a-service company Luneos.

The successful process for a Euro-denominated, long-term senior financing for a fully merchant portfolio in Poland represents a unique achievement and at the same hints at the rapid maturing of the Polish renewables market. The process was further enabled by the strong attention paid by LGE to environmental and social risk factors, which includes a rigorous screening of supply chains to comply with SUSI’s responsible procurement requirements.

Founded in 2009, SUSI Partners is a Swiss fund manager specialised in sustainable energy infrastructure investments with EUR 1.9bn in capital commitments from institutional investors. The firm’s investment strategy focuses on private equity and credit opportunities across the energy transition spectrum, including clean energy generation, energy efficiency measures, and solutions enabling clean energy use. With a successful track record of more than 140 transactions in over 20 countries to date, SUSI Partners seeks to achieve attractive risk-adjusted returns for its clients and their beneficiaries while contributing meaningfully to achieving global climate neutrality.

PCP Transition is a credit fund dedicated to supporting Europe’s transition towards sustainability. With commitments of approximately EUR 700m, the fund thematically invests in support of the following goals: (i) accelerating the development of a carbon neutral society; (ii) supporting the development of the circular economy and; (iii) improving the sustainability characteristics of harder to abate sectors.

The team was led by energy and project finance partner Tomasz Rogalski and senior associate Igor Kondratowicz and included senior associate Cezary Zawiślak, associates Karolina Lepakiewicz, Daniel Książek. Paula Stępień, Wojciech Jaskulak, Cezary Zientecki and lawyers Katarzyna Petru and Wiktoria Jadczak.