Warsaw team advises mBank on financing construction of Cyranka PV project sponsored by ONDE

The Warsaw team advised mBank on financing construction of 18 MWp Cyranka PV project sponsored by ONDE. Cyranka PV project is located in Giżycko commune in Poland and is in final stages of construction process.

ONDE S.A. is a leader in the renewable energy sector in Poland, a leading contractor of infrastructure for RES, in particular wind farms and photovoltaic farms in Poland. The company has completed more than 350 RES investments with a total capacity of more than 3 GW. ONDE is the first RES company in Poland to be certified under EMAS, the EU's highest environmental accolade and the most credible environmental management standard in the European Union. ONDE is part of the ERBUD Capital Group - one of the largest Polish construction groups with over 30 years of experience in the Polish market and in Western European countries.

The Warsaw team was led by associate Przemysław Piasecki, senior associate Cezary Zawiślak and partner Tomasz Rogalski. Partner Tomasz Rogalski and associates Przemysław Piasecki and Michał Rutkowski advised on the financing aspects of the transaction. Partner Tomasz Rogalski, senior associate Cezary Zawiślak, associates Paula Stępień and Mateusz Czuba, as well as lawyers Jan Nowjalis, Martyna Korzeniewska and Bartosz Odziemkowski supported on legal due diligence aspects.. The entire Norton Rose Fulbright team worked under the supervision of partner Tomasz Rogalski, who heads the firm’s Warsaw energy and infrastructure practice.

Tomasz Rogalski commented:

“We are delighted to have assisted mBank on this exciting PV financing transaction which marks ONDE’s entry into the project financing of its development pipeline in Poland. We believe that the new wave of renewable energy developers like EPC contractors is here to stay and shall bring value to the Polish market with its construction and O&M experience”.

The mBank team included Anna Zając, Bartłomiej Czuba, Katarzyna Chudzik and Krzysztof Krajmecki.

The ONDE team included Maciej Grzesiewski, Marta Masternak, Julita Jaworowska-Kałużna and Jagoda Rybińska.