DLA Piper Weiss-Tessbach advised a consortium of banks under the leadership of UniCredit Bank Austria on the funding of a hydroelectric power station in the Tyrolean valley Stanzertal. A total of 41,5 million Euro in form of an non-recourse loan was provided for the construction project.

The ground-breaking in Stanzertal was carried out in March, the financing itself has been sealed at the beginning of July. UniCredit provided the majority with 26.5 million Euro, Hypo Tirol Bank and Bank for Tyrol and Vorarlberg participated with 10 and 5 million Euro. The completion of the power plant project, in which five Tyrolean communes are directly involved, is expected for 2015. The annual capacity will be 52 million kWh – which will supply 15,000 households with electrical energy.

"We are pleased for our client UniCredit that this exceptional Tyrolean project could be established. The tight schedule and the large number of parties were a challenge that our team has mastered perfectly", says Christoph Urbanek, partner at the Finance and Projects group of DLA Piper Weiss-Tessbach, who led the project together with his senior associate Alexander Schneider.