Watson Farley & Williams (“WFW”) has advised Bayerische Landesbank on the €61m financing of Encavis AG’s (“Encavis”) largest German solar park to date with a generation capacity of around 114 MWp in the federal state of Mecklenburg-Vorpommern.
After completion, anticipated by end November 2024, the plant is expected to make a significant contribution to the German energy transition by producing 121 GWh of electricity per year, for three quarters of which a ten-year PPA (“Power Purchase Agreement”) with a commercial offtaker has already been concluded.
Hamburg-based Encavis is a leading independent power producer which operates (onshore) wind and solar parks in twelve European countries. The company is listed on the SDAX of Deutsche Börse AG.
The WFW Project & Structured Finance team that advised Bayerische Landesbank was led by Hamburg partner Sven Fretthold, supported by Associate Finja Schmale and Transaction Lawyer Annika Schulz, as well as Frankfurt Senior Associate Alejandra Hagedorn.
Sven Fretthold commented: “We are delighted to have once again advised our long-standing client Bayerische Landesbank on an important transaction that will make a significant contribution to Germany’s sustainable energy supply. This transaction underlines once more WFW’s outstanding expertise in the field of renewable energy”.
