Global law firm White & Case LLP has advised Octopus Renewables Infrastructure Trust plc (ORIT) on a conditional agreement to sell the Krzecin and Kuslin onshore wind farms in Poland to ORLEN Wind 3, an affiliate of public Polish multi-energy company ORLEN, and refinance existing indebtedness of the project companies.
ORIT, an investment trust listed on the London Stock Exchange focused on renewable energy assets across Europe, the UK and Australia, expects to receive net proceeds of between PLN 470 million and PLN 490 million after deducting debt and hedging costs.
ORLEN has agreed to provide a loan to repay the existing bank debt secured against the Krzecin and Kuslin wind farms, which have a combined capacity of 59 MW. The transaction is conditional upon antitrust approval.
White & Case previously advised ORIT on the October 2021 acquisition of the Krzecin and Kuslin wind farms.
The White & Case team that advised on the transaction included partners Maciej Zalewski, Grzegorz Abram (both Warsaw) and Sandra Rafferty (London), and associates Michał Perdjon, Sylwia Zwolan, Aleksandra Rajek, Joanna Misztal-Dzitko and Mateusz Dyduch (all Warsaw).