We are pleased to announce that we advised Projekt Solartechnik S.A. and its subsidiaries (“PST”) on securing external financing in the amount of PLN 128 million (EUR 29 million) for the construction of a portfolio of solar power farms. The financing was provided by the Polish Development Fund with the purpose of constructing 26 PV farms in Poland with a total capacity of 43 MW.
Projekt Solartechnik is an international group specializing in large-scale photovoltaic farms. The company entered the Polish market in 2012 and is now one of the leading players specializing in renewable energy sources. Projekt Solartechnik created a professional team dealing with the design, development, construction (EPC), maintenance, servicing (O&M) of utility-scale photovoltaic farms, and sales of green energy (cPPA/PPA).
The Polish Development Fund is a state-owned financial and advisory group that offers financial instruments supporting the development of companies, local governments and individuals. The Polish Development Fund focuses its investments on sustainable social development and national economic growth.
Earlier this year, we advised PST in connection with its cooperation with Eiffel Investment Group, a French alternative investor and asset manager, which resulted in obtaining private debt financing for the development of solar projects in Poland (details).
The team was led by Dr Jakub Rachwol (a partner co-heading the Banking & Finance practice) and included Adrian Więslaw (senior associate), Augustyna Porzucek (associate) and Filip Książczak (associate), all members of the Banking & Finance practice.