Bird & Bird advises Obton A/S on financing the development costs of 72 photovoltaic farms in Poland

The financing of approximately PLN 176 million in total was provided by PKO Bank Polski, the largest bank in Poland, well-known for its involvement in financing large-scale photovoltaic and renewable energy projects. The portfolio for which the financing was obtained represents yet another Obton investment on the Polish market. This transaction involved a significant number of entities based in Poland and Denmark. PKO Bank Polski was advised by Dentons.

The Bird & Bird team was led by Olga Koszewska (Counsel) from the Warsaw Finance and Financial Regulation Team supported by Krzysztof Wiśniewski (Senior Associate), Alicja Wilczura (Junior Associate) and Bartłomiej Kurzac (Trainee). Bird & Bird’s Warsaw Finance Transaction Team was also assisted by Bird & Bird’s Warsaw Energy Team.

“The cooperation between the Obton team and the team from Bird & Bird was very professional, as both teams had a deep understanding of the business and the strategy regarding the structure of a very complex project, towards the bank and it’s advisor, in order to secure the loan facility for the project”, said Kenneth Kolvits, Associate Director, Greenfield Development, Obton A/S.

"We are delighted to have worked with Obton once again on another photovoltaic project financing transaction. The collaborative approach between our Bird & Bird team and Obton's professionals was instrumental in successfully navigating this very complex deal and securing financing from PKO Bank Polski for another important renewable energy project.” – commented Olga Koszewska.