Hexagon Renewable Energy SA’s Financing of Sud Marne Project

Norton Rose Fulbright supported BPCE Energeco, Caisse d’Épargne et de Prévoyance Grand Est Europe, La Banque Postale and Natixis in connection with the transaction. Volta Avocats carried out the legal audit of the project.

Arrangers BPCE Energeco, Caisse d’Épargne et de Prévoyance Grand Est Europe and La Banque Postale have finalized the financing of the Sud Marne wind project, with a power of 122MW, on behalf of Hexagon Renewable Energy SA, a producer of independent electricity managed by TTR Energy, developer, operator and investor in renewable energies for 13 years. The Sud Marne project, composed of 30 turbines of 4MW and 4.2MW supplied by Vestas, will be the largest onshore wind project in France (122 MW).

This financing includes structured non-recourse senior debt and a VAT financing facility, as well as rate hedging provided by Natixis and La Banque Postale. Volta Avocats carried out the legal audit of the project (regulatory aspects and project contracts) for the benefit of the financial parties.

This financing marks the first closure of a greenfield project for Hexagon Renewable Energy. Electricity production from the Sud Marne project is equivalent to the annual consumption of 151,200 households and will prevent the production of 118,000 tCO2 per year. The start of energy production is scheduled for January 2023.

The Norton Rose Fulbright team in charge of advising the financial parties on this transaction was headed by Arnaud Bélisaire (Picture), partner co-responsible for the Energy practice, accompanied by Véronique Bruel, counsel in charge of financing aspects, Amandine Delsaux , counsel in charge of regulatory and project aspects, Marie Zelazko, senior associate, Pierrick Ferrero, associate and Ambre Ouint-Vanlaer, lawyer.

The Volta Avocats team was made up of Antoine Guiheux, Alexandra Rochard, Sandrine Galipon and Brice Bonnin, in charge of regulatory and land aspects and Maxime Lavayssière and Lilian Hirigoyen in charge of project contracts.

Involved fees earner: Arnaud Bélisaire – Norton Rose Fulbright; Véronique Bruel – Norton Rose Fulbright; Amandine Delsaux – Norton Rose Fulbright; Ambre Ouint-Vanlaer – Norton Rose Fulbright; Marie Zelazko – Norton Rose Fulbright;

Law Firms: Norton Rose Fulbright;

Clients: BPCE Energeco; Caisse d’Epargne Grand Est Europe; La Banque Postale; Natixis;

Read the full article on Global Legal Chronicle France

Author: Naoual Sadouqi

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