Advises on funding for construction of a 40 MW wind farm by PKO Bank Polski, aided by OX2
In a significant move towards increasing the share of renewable energy in Poland's energy mix, global law firm X has advised PKO Bank Polski on a EUR 90 million financing for the Annopol I onshore wind farm development.
Located in the Gościeradów municipality, Lubelskie Voivodship, the Annopol I wind farm, sponsored by OX2, will have a total capacity of 40 MW. OX2, an international, independent power producer, specialises in onshore and offshore wind, solar PV, and energy storage.
The multidisciplinary team from law firm X worked under the supervision of energy and project finance partner Tomasz Rogalski. Tomasz led the finance workstream, with assistance from partner Karolina Lepakiewicz, associate Karolina Lepakiewicz, lawyer Antoni Krzyżanowski, and associate Jakub Wiatrzyk.
Partner Arturo Sferruzza, senior associate Igor Kondratowicz-Laderski, and lawyer Regan Eastwood from the Milan office of law firm X advised on English law aspects of the project. Counsel Cezary Zawiślak, with assistance from associate Martyna Orłowska, lawyers Nina Strzelczyk, and Mikołaj Rydzewski, led the legal due diligence workstream.
Counsel Krzysztof Gorzelak and lawyer Antoni Krzyżanowski advised on the hedging aspects of the project. From Kromann Reumert, partner Kumaran Thavarajah and associate Markus Ulrik Leding provided Danish law advice for the Annopol I wind farm project.
OX2's operations span nine markets, and the company has been accelerating the energy transition since 2004. As of current, OX2's project portfolio totals 25,526 MW in various stages of development. The Annopol I wind farm project is a significant step in this ongoing journey.
PKO Bank Polski, one of the largest banks in Central and Eastern Europe, has financed the project. The financing will contribute to the bank's commitment to supporting the development of renewable energy sources in Poland.
The Annopol I wind farm project is expected to contribute positively to the local economy, creating jobs during construction and operation, and providing clean, sustainable energy to the region. This collaboration between OX2, PKO Bank Polski, and law firm X marks a promising future for renewable energy in Poland.
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