Dentons advises Qair on €105 million financing of the construction of a hybrid wind/solar portfolio

Dentons’ Banking and Finance practice team advised Qair Polska in connection with the financing of four wind and 29 photovoltaic power plants with a total capacity of 106 MW. The transaction constitutes one of the largest financings of multi-technology renewable energy portfolios in Poland. The financing was granted by Santander Bank Polska, BNP Paribas Bank Polska and PKO Bank Polski.

The scope of legal services encompassed comprehensive assistance in negotiating and executing the finance documents which were governed by the laws of England and Poland.

The project was supervised by partner Mateusz Toczyski, Head of the Europe and Co-Head of the Global Banking and Finance practice, and led by counsel Tomasz Zwoliński. The cross-border legal team also included associates Katarzyna Mazur and Katarzyna Kaptur and senior associate Klaudia Szymańska-Rutkowska in Warsaw; counsel Surbhi Malhotra-Trenkel in Munich; and partners Jean-Marc Allix and Olivier Genevois, and associates Djésia Meziani, Philippine de Fouchier and Hugo Casasnovas in Paris. Partner Matthew Sapte and associate Annreika Ray in London advised on the hedging documentation.

“We are honored to have been part of this outstanding project and to be able to closely watch the development of Qair’s operations in Poland,” said Mateusz Toczyski.The cooperation with all the parties involved in the project was extremely satisfactory and we are happy we managed to achieve the signing within such a short time, especially under the pandemic-related restrictions,” added Tomasz Zwoliński.

In 2020, Dentons advised Qair on the financing of a portfolio of almost 200 MW of renewable energy sources, including the Rzepin, Linowo and Udanin wind farms and 28 photovoltaic projects.