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Bird & Bird Advises mBank on Financing for Construction of Photovoltaic Projects Carried Out by Wento SPV

Bird & Bird Advises mBank on Financing for Construction of Photovoltaic Projects Carried Out by Wento SPV

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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." 

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Established in 1957, Wolf Theiss is one of the leading European law firms in Central, Eastern and South-Eastern Europe with a focus on international business law. With 300 lawyers in 13 offices located in Albania, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia and Ukraine, Wolf Theiss represents local and international industrial, trade and service companies, as well as banks and insurance companies. Combining law and business, Wolf Theiss develops comprehensive and constructive solutions on the basis of legal, fiscal and business know-how.

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