Norton Rose Fulbright advises numerous international banks on the refinancing of a 94 MW Pomerania wind farm in Poland

Global Press release - Business April 2024

Global law firm Norton Rose Fulbright has advised European Investment Bank (EIB), Nordic Investment Bank (NIB) and Skandinaviska Enskilda Banken (acting solely as agent and security agent) on facilities of €82m for the refinancing of the 94 MW Pomerania Wind Farm owned by the international green energy company Ignitis Renewables. 

Ignitis Renewables is part of Ignitis Group, an international energy company and one of the largest energy groups in the Baltic region. The group’s core activities include power and heat production and supply, power and natural gas trading and distribution, and power system maintenance and development. It is focused on the development of green energy with aims to become the region’s center for new energy and a leader in distributed energy solutions. 

Ignitis Group companies operate in Lithuania, Latvia, Estonia, Poland and Finland. Group innovation fund invests in energy startups in the UK, Norway and France.

The 94 MW wind power project, situated within the Pomeranian voivodeship, commenced its commercial operations in December 2021. With its 29 turbines generating a total output of around 300 GWh per year, it has the capacity to satisfy the energy needs of nearly 160,000 households. 

The transaction required complex reorganization, which included structural amendments to existing finance documents and execution of new finance documents changing existing corporate finance structure into project finance structure.

The finance stream of work was led by senior associate Daniel Popek and included associates Karolina Majcher and Jakub Wiatrzyk, as well as lawyers Wiktoria Jadczak and Natalia Rybak. The legal due diligence stream of work was led by senior associate Cezary Zawiślak and included senior consultant Piotr Strawa, counsels Marta Kawecka and Małgorzata Patocka, associates Paula Stępień, Mateusz Czuba, Przemysław Piasecki, Martyna Orłowska, Daniel Książek, Jan Nowjalis, as well as lawyers Bartosz Odziemkowski and Mikołaj Wołczyński. The entire Norton Rose Fulbright team worked under the supervision of energy and project finance partner Tomasz Rogalski.

The English law advice was delivered by partner Charles Whitney and counsel Rosa Mottershead. The Luxembourg law advice was provided by partner Stephane Braun, counsel Cyril d’ Herbes and associate Henrique Arcoverde.

The banks’ team included: Giedrius Ruskys, Ayse Nil Ada, Inés de Los Arcos Domingo, Eleonora Greco, Tomasz Balawajder, Massimo Novo (EIB), Martin Lundström, Mirja Koskimäki, Tuomas Suurpää, Andrea Mac Donald-Thomé, Bo Nordberg (NIB).

Ellex acted as external legal advisor to the lenders and agent as to Lithuanian law.

Daniel Popek commented:

"It has been a privilege to lead the finance stream of the Pomerania wind farm refinancing. Advising esteemed international banks such as the European Investment Bank, Nordic Investment Bank, and Skandinaviska Enskilda Banken on this deal marks a significant milestone. This transaction highlights the dedication and focus firms across the region and beyond have towards advancing sustainable energy initiatives as well as facilitating investments that have a long-term and positive impact. The Pomerania wind farm's capacity to meet the energy needs of nearly 160,000 households showcases the potential of renewable energy sources. Thank you to our clients, Ignitis team as well as to our team and external advisors for the collaborative effort in achieving this success."

For further information please contact:

Beata Głuchowska, Business Development Manager

Tel: +48 22 581 4952  


Senior Associate
Senior Associate