Bird & Bird advises Obton A/S on refinancing of the acquisition of 49 photovoltaic farms in Poland of a total capacity of 49 MW.

Bird & Bird’s Warsaw Financing Transactions Team recently had the pleasure of advising Obton A/S (a Danish solar investor being one of Europe’s top ten largest providers of investments in renewable solar energy) on the refinancing of the acquisition of 49 photovoltaic farms located in south-western Poland, each with a capacity of up to 1 MW, and of a total capacity of 49 MW.

This was a complex cross-border transaction provided by German KfW IPEX-Bank, well-known for assisting the transformation to carbon neutrality by financing environmental change mitigation projects, driving forward energy transition projects, and making a positive contribution to global climate action. The refinanced portfolio is yet another Obton’s investment on the Polish market. This was a multi-threaded and complex refinancing transaction involving dozens of entities based in Poland and Denmark. KfW IPEX-Bank was advised by Clifford Chance.

In this project Bird & Bird’s team was led by Maciej Georg (Partner), Head of the Financing Transactions Team in Warsaw, and supported by Olga Koszewska (Counsel), Krzysztof Wiśniewski (Senior Associate) and Jakub Leszczyński (Junior Associate). Rafał Dziedzic (Partner at Bird & Bird’s Warsaw Corporate/M&A practice) and Mariya Borsuk (Senior Associate) advised on civil law issues related to the settlement of cash flows in Obton’s group in connection with the financing. Bird & Bird’s Warsaw Financing Transactions Team was also supported by Vivek Kailas (Counsel) from Bird & Bird’s Copenhagen office, who advised on the transactional issues from the Danish law perspective.

“Obton highly appreciates the dedication, professionalism, and solution-oriented approach from the Bird & Bird team for this extensive and complex transaction. The Bird & Bird team has been supportive in many different aspects of the transaction and a valued advisor for Obton”, said Henrik Knattrup Nielsen, Senior Manager, Legal, Energy Storage, Obton A/S