Bird & Bird's Warsaw office has advised mBank in a financing transaction for the construction of photovoltaic projects carried out by a special purpose entity from the Wento capital group.
According to Bird & Bird, "the projects won the renewable energy auctions conducted in December 2016 and as such were guaranteed to be reimbursed for the so-called negative balance provided for in the Renewable Energy Act. The loan granted amounts of several tens of millions of Polish Zloty."
Bird & Bird's team included Counsel Andrzej Nentwig, who described it as "a great pleasure to be able to advise on one of the first financing transactions in Poland related to a portfolio of commercial photovoltaic projects covered by the new support system for renewable energy sources."
Nentwig was joined on Bird & Bird's project team by Associate Lukasz Petelski, Head of Financing Transactions Maciej Georg, and Associate Anna Fujak.
Jakub Gorzelnik, Head of Legal Department at Wento, led his company's legal team on the deal. He described the company as "pleased that the completion of the transaction took place so efficiently," which he says "was an important element of our strategy of developing a portfolio of photovoltaic projects."