Dentons advised Enlight Renewable Energy on the construction and multijurisdictional financing of a 49 MW wind farm near the Adriatic port of Split in Croatia.
Counsel Agnieszka Kulińska, supervised by Arkadiusz Krasnodębski, Poland Managing Partner and Head of the Warsaw and European Energy and Natural Resources practice, provided comprehensive legal advisory concerning the preparation of construction and maintenance contracts for the wind farm, including the balance of plant agreement, operations and maintenance agreement for the substation, turbine supply agreement and full services agreement. She also represented the client in negotiations at each phase of the project. The Warsaw-based team led this project as foreign experts, coordinating the work of local advisors in Croatia.
„The Warsaw Energy and Natural Resources team has for years been highly regarded by Polish and international clients and business partners. We are pleased that Enlight Renewable Energy has entrusted us with legal advice on this complex and multi-aspect project in which we were able to utilize our long-established and broad experience in the scope of renewable energy,” commented Agnieszka Kulińska, Counsel in the Warsaw Energy and Natural Resources team.
The financing of the transaction involved the laws of Croatia, England, USA, Israel and Germany and encompassed advice in the scope of general management of legal aspects of the transaction, negotiations of the finance documents, including approx. EUR 29 million and HRK 155 million facilities agreement, coordination of the multijurisdictional legal advice provided to Enlight Renewable Energy as well as assistance with fulfilment of the conditions precedent to the first utilization of the facilities.
The financing transaction was led by Mateusz Toczyski, Partner and Head of the Polish and European Banking and Finance Practice, and Counsel Agnieszka Lipska with support from Associates Krzysztof Mrozik and Łukasz Błaszczak, as well as lawyers from other relevant jurisdictions.
"This is a milestone transaction for us, showcasing the Dentons Warsaw banking practice as an internationally recognized adviser in multijurisdictional transactions, coping smoothly with various issues in different legal systems," commented Agnieszka Lipska, Counsel in the Warsaw Banking and Finance team. "Our people are regarded as professional advisers delivering seamless cross-border advice," added Partner Mateusz Toczyski.
Enlight Renewable Energy is a Tel Aviv Stock Exchange listed company specializing in the initiation, development, financing, construction, management and operation of renewable energy projects. Operating on a local and global scale, the company has successfully executed over 150 wind and solar projects in Israel and Europe and procured project financing for projects encompassing over US $500 million granted by leading banks and financial institutions in Israel and worldwide. The company is currently operating, constructing and developing over 1GW of projects.
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