Norton Rose Fulbright advises Bank Polska Kasa Opieki on financing PV portfolio for Northwood Infrastructure Capital Limited’s company Vaskol

Global law firm Norton Rose Fulbright advised Bank Polska Kasa Opieki on financing construction of PV portfolio for Vaskol being controlled by Northwood Infrastructure Capital Limited (NICL). NICL led the deal structuring and refinancing, while Hydrogen 2, a Czech fund acting as the majority joint venture partner, was responsible for the heavy lifting in construction and operational management.

NICL is a leading private equity firm specializing in renewable energy and digital infrastructure. With a strategic focus on Europe, NICL is actively engaged in the development and construction of energy storage facilities and renewable power plants. The company also serves as a financial advisor, offering specialized expertise in sustainable project development. NICL’s advisory services are tailored specifically for developers seeking comprehensive guidance and support. From initial planning to project execution, NICL is committed to providing end-to-end support for sustainable energy investments.

Financed by Bank Polska Kasa Opieki, Vaskol’s PV portfolio is spread across Poland and expected to reach commercial operations date this year.

The Norton Rose Fulbright team was led by senior associate Igor Kondratowicz and included associate Karolina Lepakiewicz (finance aspects of the transaction), as well as senior associate Cezary Zawiślak and lawyer Bartosz Odziemkowski (legal due diligence aspects of the transaction). The entire Norton Rose Fulbright team worked under the supervision of energy and project finance partner Tomasz Rogalski.

Bank Polska Kasa Opieki team included Cezary Burzyński, Janusz Ciepliński, Bartosz Uliczka and Jakub Hajduk.