Watson Farley & Williams has advised SUSI Partners AG, as manager of the SUSI Renewable Energy Fund II, on the project financing of the 94.6 MW Lyngsåsa wind farm in Sweden.
The wind farm will comprise 22 Vestas V 150 turbines and is being built under a turnkey construction agreement with German developer BayWa r.e., which sold the project to SREF II. Completion is expected in 2021 with annual power production of 315 GWh to provide green power to 80,000 households, resulting in an annual reduction of CO2 emission of 93,000 tonnes.
In addition to the project having entered into a long term power purchase agreement (PPA), a complex project financing including a bridge facility and a long-term KfW-backed facility has been agreed with Hamburg Commercial Bank AG.
The WFW Germany Banking & Finance team advising SUSI Partners was led by Partner Thomas Hollenhorst (Picture), supported by Managing Associates Marcus Mützelburg and Pascal Unger, as well as Associate Jakob Paluszkiewicz. The team worked closely throughout the transaction with SUSI Partners’ local Swedish counsel Vinge.
Involved fees earner: Thomas Hollenhorst – Watson Farley & Williams; Marcus Mützelburg – Watson Farley & Williams; Jakob Paluszkiewicz – Watson Farley & Williams; Pascal Unger – Watson Farley & Williams;
Law Firms: Watson Farley & Williams;
Clients: Susi Partners;