Global law firm Norton Rose Fulbright has advised the consortium of Polish banks consisting of mBank S.A. and Santander Bank Polska S.A. in relation to the development financing of R. Power's 121 MWp PV installations in Poland.
The total value of financing amounts to approximately 350 million PLN (nearly US$90 million), which makes it the largest PV project financing in Poland to date.
The financing is to be provided to 44 project companies from the R. Power group – a leader in the PV sector in Poland with 20% market share.
The complex transaction was based on the project finance formula relying on the Polish support scheme for PV energy installations.
The transaction was led by partner Grzegorz Dyczkowski, counsel Marta Kawecka and associate Aleksander Haleniuk from the Warsaw banking and finance team of Norton Rose Fulbright. The transaction team also included Karolina Lepakiewicz and Marcin Słota from the Warsaw banking and finance team.