VSB Boosts Renewables with Raciborz Wind Farm Financing
Deal News | Nov 19, 2024 | CEE Legal Matters
Dentons has provided legal advisory to PKO Bank Polski in the financing of VSB Group’s Polish subsidiary, VSB Polska, for the development of the Raciborz wind park, a 41.6-megawatt onshore wind farm in Silesia, Poland. Solivan represented VSB in this transaction. PKO Bank Polski, the largest Polish bank, underscores its commitment to renewable energy projects through this financing. VSB, a Dresden-headquartered renewable energy developer, began construction of the wind farm in June 2023 with turbine installation completed by October 2024, and the first electricity expected by early 2025. Additionally, earlier in the year, Dentons assisted VSB with the sale of another wind project in Poland.
Sectors
- Renewable Energy
- Financial Services
- Legal Services
Geography
- Poland – The geographic focus is on Poland, where the Raciborz wind farm is located and PKO Bank Polski operates, signifying local development in the renewable energy sector.
- Germany – VSB, the renewable energy developer involved, is headquartered in Dresden, Germany, indicating cross-border business activities.
Industry
- Renewable Energy – The article focuses on the financing and development of a wind energy project, emphasizing the renewable energy industry's growth within Poland and the activities of VSB, a European renewable energy developer.
- Financial Services – Involves PKO Bank Polski's role in financing the wind farm project, showcasing the financial sector's involvement in supporting renewable energy initiatives.
- Legal Services – Highlights the advisory role of law firms Dentons and Solivan, showcasing their involvement in legal aspects of project financing and M&A within the renewable energy sector.
Financials
- 41.6-megawatt – The capacity of the Raciborz wind farm being developed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| VSB Group | Target Company | Company | A European renewable energy developer involved in the Raciborz wind farm project in Poland. |
| PKO Bank Polski | Financier | Company | The largest bank in Poland financing the Raciborz wind farm. |
| Dentons | Legal Advisor to Financier | Company | A law firm advising PKO Bank Polski on financing aspects. |
| Solivan | Legal Advisor to Target | Company | A law firm advising VSB on the wind farm financing. |
| Tomasz Zwolinski | Partner at Dentons | Person | A member of the legal team advising PKO Bank Polski. |
| Christian Schnell | Partner at Dentons | Person | A member of the legal team advising PKO Bank Polski. |