Norton Rose Fulbright advises UniCredit on PLN 83.7 million financing of 51 MW PV portfolio in Poland

Global law firm Norton Rose Fulbright has advised UniCredit on a PLN 83.7 million financing provided to two special purpose vehicles (SPVs) sponsored by PAD RES Group, which operate photovoltaic (PV) farms located in Biesiekierz in the West Pomeranian Voivodeship and Mikołajki Pomorskie in the Pomeranian Voivodeship.

The financing will be used to refinance the construction costs and support the ongoing operational activities of the projects. The financed assets comprise two operational PV projects with a combined installed capacity of 51 MWp. The total annual electricity production capacity of the portfolio is approximately 54 GWh, which is expected to cover the annual electricity demand of nearly 18,000 Polish households.

PAD RES Group is a Polish developer and investor in clean energy sources, specialising in large-scale renewable energy projects as well as grid and distribution infrastructure investments. Established in 2010, the company successfully develops its projects from the ground up through to the operational phase and manages operating projects as an independent power producer. The Group has secured building permits or grid connection conditions for projects with a combined connection capacity exceeding 2.5 GW and continues to expand its portfolio across photovoltaic, wind, energy storage and biogas projects at various stages of development.

The Norton Rose Fulbright team was led by counsel Igor Kondratowicz-Laderski and included associates Mateusz Czuba and Antoni Krzyżanowski. The entire Norton Rose Fulbright team worked under the supervision of energy and project finance partner Tomasz Rogalski.

Igor Kondratowicz-Laderski commented:

"We are pleased to have advised UniCredit on this transaction. The financing demonstrates how established renewable energy assets can benefit from tailored financing structures that enhance operational flexibility and support efficient portfolio management. We are delighted to have assisted UniCredit on another transaction in the renewable energy sector and to contribute to the continued growth of high-quality clean energy infrastructure in Poland."