Warsaw team advises Bank Gospodarstwa Krajowego on financing construction of wind farm sponsored by Budimex

Global law firm Norton Rose Fulbright advised Bank Gospodarstwa Krajowego on financing construction of 7 MW wind farm sponsored by Budimex.

Magnolia Energy, a special purpose company of Budimex set up to implement a project for the construction of a wind farm consisting of 2 turbines with a total capacity of up to 7 MW, has obtained financing from Bank Gospodarstwa Krajowego under the project finance formula. This is the next stage in the development of Budimex Group's investments in renewable energy sources. 

The financing is based on a long-term power purchase agreement (PPA).

Budimex started investing in renewable energy sources in 2022 - as one of the elements of the Budimex Group's business diversification, alongside foreign markets and electromobility.

The Warsaw team was led by associate Przemysław Piasecki and senior associate Cezary Zawiślak. 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, associate Paula Stępień and lawyers Jan Nowjalis, Martyna Korzeniewska and Bartosz Odziemkowski assisted 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.

Przemysław Piasecki commented:

“We are delighted to have assisted Bank Gospodarstwa Krajowego on yet another exciting wind farm financing transaction. We believe that this transaction is another important step in the diversification of Budimex Group's business and in the green transformation of the Polish energy market”.

The Bank Gospodarstwa Krajowego team included Marcin Pieńkowski, Jacek Dąbrowski, Anna Dobrowolska and Agata Książek.

The Budimex team included Adam Skwarski, Zbigniew Kamecki and Małgorzata Fido-Bruszewska.