Clyde & Co advises GoldenPeaks Capital on financing two large solar farm portfolios in Poland

Clyde & Co has advised GoldenPeaks Capital, one of the largest photovoltaic system owners in Poland and Hungary, on obtaining EUR 109 million financing from NORD/LB for new two portfolios of solar farms in Poland.

The two portfolios, KAMI 2 and KAMI 3, consist of over 100 solar farms with a combined capacity of 177 MW. The projects are in various stages of construction and scheduled to go into operation by Q4 2024. Clyde & Co’s team supported GoldenPeaks Capital, which has over 15 years’ experience in structuring energy projects globally, in projects’ related aspects concerning the portfolios. The team  also prepared a legal due diligence report of the projects included in both portfolios.

Clyde & Co’s team was supervised by partner and Head of Energy – Poland, Agnieszka Kulińska, with counsels Lena Boczkaja and Mikołaj Kępas leading the project. They were supported by counsels Maciej Dymnicki and Zbigniew Stasiak, senior associate Jacek Korcz, and associates Witold Szpek, Marcin Ratajczak, Maciej Pieńkowski and Franciszek Jędras.

Michał Piekarski, Spectris Vice President Legal (subsidiary of GoldenPeaks Capital), said: “As one of the fastest-growing independent producers of green energy in Europe, we manage multiple projects simultaneously. Therefore, we need trusted legal advisors who are as dynamic as we are. The energy team at Clyde & Co is one of those few perfectly meeting our expectations.”

Earlier this year, Clyde & Co advised GoldenPeaks Capital on the acquisition of shares in companies developing photovoltaic projects with a total capacity of 69 MW. It also advised GoldenPeaks Capital on a transaction involving the acquisition of six companies developing 23 photovoltaic projects with the total connection capacity of approx. 65 MW. Clyde & Co’s assistance involved preparing a legal due diligence report on the projects and the companies holding them, as well as comprehensive transactional advice.

Agnieszka Kulińska supervised these transactions, with counsel Filip Raubo leading both projects. For the second transaction, senior associate Ewa Gołąbek coordinated the preparation of the legal due diligence report, with assistance from other associates.

Agnieszka Kulińska, partner and  Head of Energy – Poland, said: “I’m very happy and proud that Clyde & Co’s team continues to advise GoldenPeaks Capital on their projects in Poland. Client confidence and building long-term relationships are of the utmost importance to us.”