OX2’s Rutki Solar Farm Secures Financing with Nord/LB Backing
Deal News | Feb 13, 2025 | CEE Legal Matters
Clifford Chance has facilitated the financial backing of Nord/LB for OX2's large-scale solar endeavor, the Rutki Solar Farm, located in southwestern Poland. This solar farm, which boasts a capacity of 100MW, is projected to generate around 108 GWh of electricity annually, catering to the energy requirements of approximately 22,000 households. A significant aspect of this project is its 15-year contract-for-difference with Poland's Energy Regulatory Office, which covers about half of the farm's expected output. OX2 received legal guidance from Allen & Overy and Shearman Sterling, while Clifford Chance's legal team for Nord/LB included a number of partners and associates led by Andrzej Stosio and Pawel Puacz.
Sectors
- Renewable Energy
- Finance
- Legal Services
Geography
- Poland – The Rutki Solar Farm is located in southwestern Poland, making it a focal region for the project.
Industry
- Renewable Energy – This sector is relevant due to the focus on solar power generation by the Rutki Solar Farm.
- Finance – The article deals with the financial arrangements of a major renewable energy project.
- Legal Services – Legal advisory roles played by Clifford Chance, Allen & Overy, and Shearman Sterling are central to the article.
Financials
- 108 gigawatt-hours – The expected annual electricity production of Rutki Solar Farm.
- 15-year contract-for-difference – Agreement with Poland's Energy Regulatory Office covering half of the farm's output.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Clifford Chance | Legal Advisor for Nord/LB | Company | A leading global law firm advising Nord/LB in the financing deal. |
| Nord/LB | Lender | Company | The bank providing financing for the Rutki Solar Farm. |
| OX2 | Project Owner | Company | The company responsible for the development of the Rutki Solar Farm. |
| Allen & Overy | Legal Advisor to OX2 | Company | A multinational law firm advising OX2 on the project. |
| Shearman Sterling | Legal Advisor to OX2 | Company | A law firm reportedly assisting OX2 in the solar farm project. |
| Poland's Energy Regulatory Office | Regulatory Authority | Government | The governmental body that signed a 15-year contract-for-difference with Rutki Solar Farm. |