Norton Rose Fulbright advises on one of Poland's largest junior debt financings

Global law firm Norton Rose Fulbright advised Brookfield, through its infrastructure debt platform, on a new junior debt facility of up to PLN 575 million (EUR 135 million) for the Qair Polska, a leading renewable energy company and part of the Qair Group.

To date, this is the largest project financing secured by the Qair Group in Poland and one of the largest junior debt financings completed in Poland to date. 

The landmark financing facilitated the acquisition of the 106 MW Rzepin and Linowo wind farms, refinanced the mezzanine facility made available to Qair Polska by Brookfield in 2021, and will support Qair Polska’s continued expansion across wind, solar, and storage assets in Poland.

Tomasz Rogalski, partner and head of Norton Rose Fulbright’s Warsaw energy and project finance practice, led the cross-border team that advised on this financing. He was supported by senior associate Igor Kondratowicz, associate Daniel Książek and lawyer Antoni Krzyżanowski. From London, Global Co-Head of Energy Rob Marsh, senior associate Christopher Aird and associate Sophie Lawrence also advised on this deal. Warsaw-based counsel Krzysztof Jasiński and Paris-based partner Jean-Claude Rivalland and counsel Louis Fridman advised on M&A aspects of the transaction.

Tomasz Rogalski commented:

"We are delighted to support Brookfield on of the largest junior debt financings in Poland to date and one of the most significant deals in the Polish renewable energy sector. The cross-border financing was complex, involving cross-border elements. Our team worked diligently to navigate these. This transaction highlights the growing maturity of the renewable energy market in Poland and the importance of sophisticated financing structures to support the sector’s ongoing expansion. Close collaboration with all parties was key to aligning the new junior facility with existing senior financing, supporting Qair Polska’s continued growth.”

Qair is an independent renewable energy producer dedicated to developing, financing, and operating wind, solar, and storage projects. With a strong focus on innovation and sustainability, Qair actively expands its portfolio across Europe, including significant projects in Poland. The company aims to accelerate the transition to clean energy by delivering reliable and environmentally responsible power solutions.