Allen & Overy has advised Bank Gospodarstwa Krajowego, Bank Pekao S.A. and PKO Bank Polski S.A. on financing a project comprising the design, development, construction and operation of a waste thermal treatment plant in Poznan', Poland by SITA Zielona Energia sp. z o.o. in the form of public-private partnership (PPP).

The amount of the facilities granted is almost PLN 900 million.

The construction of a waste thermal treatment plant in Poznan' is one of the key projects in the "Infrastructure and Environment" programme, with a total value of PLN 4.4 billion. The purpose of this investment is to reduce the volume of waste stored in landfill sites.

Tomasz Kawczyn'ski, partner in Allen & Overy Warsaw’s Banking Department, said: "This is an innovative transaction on the Polish market perfectly employing the form of a public-private partnership with the support of EU funds. We have again been able to support our clients in a pioneering project in Poland. We hope it will set a benchmark for the future and will set new standards in waste utilisation in our country." Agnieszka Lipska, senior associate in Allen & Overy Warsaw’s Banking Department added: "This transaction proves that PPP projects in Poland can be financed successfully based on project finance formula."

Allen & Overy's team was led by Tomasz Kawczyn'ski, partner, and Agnieszka Lipska, senior associate, with the support of Dan Cocker, counsel, Kamil Jankielewicz, senior associate, and Renata Z.ak-B?az.ejczyk, senior associate.

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