Warsaw team advises banks on PLN 800m financing for the construction of 72.6 MW Człuchów wind farm sponsored by Polsat Plus Group

Global law firm Norton Rose Fulbright advised a consortium of Polish financial institutions comprised of: Bank Gospodarstwa Krajowego, mBank S.A. and Santander Bank Polska S.A. as lenders and Powszechna Kasa Oszczędności Bank Polski S.A. as a lender, facility agent and security agent on financing construction of 72.6 MW Człuchów wind farm sponsored by Polsat Plus Group located in Ględowo, Brzeźno, Skarszewo and Jęczniki Wielkie, Człuchów Commune, Pomorskie Voivodeship in Poland.

Great Wind – a company owned by Polsat Plus Group was granted a PLN 800m (EUR 183.46m) loan for the construction of the Człuchów wind farm including 33 Vestas wind turbines with capacity of 2.2 MW each. The Polsat Plus Group company intends to bring the wind farm in Człuchów to the operational phase in the first half of 2024.

The facilities agreement provides for the granting of a PLN term facility to Great Wind up to a maximum amount of PLN 656m, a revolving facility up to a maximum amount of PLN 44m and a revolving VAT loan up to a maximum amount of PLN 100m. 

The Warsaw team drafted and negotiated the facilities agreement, security documents and treasury transaction documents as well as conducted legal due diligence.

The team was led by partner and head of energy and infrastructure practice Tomasz Rogalski and included counsel Krzysztof Gorzelak, along with senior associate Igor Kondratowicz, associate Daniel Książek, and lawyers Wiktoria Sułkowska and Mikołaj Wołczyński (finance aspects of the transaction), as well as senior associates Cezary Zawiślak and Patrycja Pakla, associates Paula Stępień, Magdalena Olechniewicz-Blocher, Karol Truszkowski and Cezary Zientecki and lawyers Martyna Sadowy, Bartosz Odziemkowski and Martyna Orłowska (legal due diligence and regulatory aspects of the transaction).