Norton Rose Fulbright advises mBank on refinancing of grid deposits for 3.5 GW of PV and battery storage projects in Poland

Global law firm Norton Rose Fulbright advised mBank on refinancing of Sunly’s existing indebtedness towards Eiffel Investment Group relating to grid deposits for 3.5 GW of planned photovoltaic (PV) and battery storage projects developed by its subsidiaries and financing of payment for further grid deposits for PV and battery storage projects in Poland.

Sunly is an independent power producer active across Poland and the Baltic states, advancing the region’s transition to clean electricity. The company develops, owns, and operates renewable energy assets, combining generation and storage to provide reliable, competitively priced power.
The finance workstream was led by senior associate Igor Kondratowicz-Laderski and included associate Jakub Wiatrzyk and lawyer Antoni Krzyżanowski. The due diligence workstream was led by counsel Cezary Zawiślak and comprised of associate Martyna Orłowska and lawyers Nina Strzelczyk, Mikołaj Wołczyński, Mikołaj Rydzewski and Michał Odolczyk. The entire Norton Rose Fulbright team worked under the supervision of energy and project finance partner Tomasz Rogalski.

Igor Kondratowicz-Laderski commented:

„This transaction marks another important milestone in our ongoing collaboration with mBank and Sunly. Having successfully closed several transactions with both parties this year, we are proud to continue supporting their efforts to develop and integrate renewable generation and battery storage assets in Poland. Each of these projects strengthens our joint track record and reflects the strong trust and cooperation among all three teams.”