Dentons has advised Kommunalkredit Austria AG on its provision of a EUR 23 senior term loan to Green Genius in Lithuania. Binder Groesswang and Glimstedt reportedly advised Kommunalkredit in Austria and Lithuania, respectively.
Kommunalkredit is an Austrian bank that specializes in infrastructure and energy financing, with a focus on sustainable infrastructure projects.
Green Genius, a subsidiary of Modus Group, is a renewable energy company developing solar energy and biogas projects across Europe. According to Dentons, Green Genius’s biogas portfolio in Lithuania reduces carbon dioxide emissions by 120 thousand tons every year and boasts one of the first biodegradable waste recycling lines in the Baltic States, installed at the power plant near Vievis.
According to Dentons, the loan will be used to refinance the existing indebtedness of 11 biogas power plants with a total capacity of 10.8 megawatts. In addition, the firm reported that the financing was granted by Kommunalkredit together with its Fidelio debt fund.
The Dentons team included Partner Piotr Nerwinski and Associate Jakub Walawski.