Warsaw team advises PGE Polska Grupa Energetyczna on PLN 2,3bn sustainability-linked financing

Global law firm Norton Rose Fulbright advised PGE Polska Grupa Energetyczna, on PLN 2,3bn (€‎490m) ESG financing.

The funds will be used for current operations, including the implementation of investments in line with the PGE Group’s long-term strategy to reduce greenhouse gas emissions and increase electricity generation from renewable sources. The cost of financing will depend on the ESG rating assigned to PGE by a specialised agency.

A consortium of banks comprised Powszechna Kasa Oszczędności Bank Polski S.A., Bank Polska Kasa Opieki S.A., Bank of China (Europe) S.A., Luxembourg, acting in Poland through its branch Bank of China (Europe) S.A. (Joint Stock Company) Branch in Poland, Industrial and Commercial Bank of China (Europe) S.A., Luxembourg, acting in Poland through its branch Industrial and Commercial Bank of China (Europe) S.A. (Joint Stock Company) Branch in Poland, Alior Bank S.A. and Santander Bank Polska S.A.

The Warsaw team was led by senior associate Joanna Braciszewska-Szarapa who was assisted by associate Karolina Majcher. The entire Norton Rose Fulbright team worked under the supervision of partner Tomasz Rogalski, who heads the firm’s Warsaw energy and infrastructure practice.