Linklaters advised UniCredit Bank AG and Crédit Industriel et Commercial SA as Lenders on the project financing of a portfolio of two wind farms with a total capacity of 22 MW located in the North of France.
This portfolio was developed by Sorgenia France and was acquired immediately prior to closing by a fund managed by Glennmont Partners (ex-BNPP Clean Energy Partners).
The Linklaters team was led by François April, Partner in banking and projects. He was assisted by Samuel Bordeleau on banking and projects matters. Fanny Mahler advised on public law aspects and Amaury Chautard provided support on real estate matters. Partner Thomas Perrot and associate Alexandra Mourlon were also involved on tax aspects of the transaction.
Linklaters in Paris is recognised for its experience in the energy sector, and is regularly appointed by banks, investors and sponsors alike in major transactions in France, including renewable energy projects. In the last three years alone, it was involved in a large number of greenfield renewable energy project financings (wind and solar) with an aggregate installed capacity of more than 730 MW, and also participated in refinancings, acquisitions and disposals of operational projects portfolios with a total installed capacity superior to 1300 MW.
On the international front, Linklaters Paris has also recently advised commercial lenders and export credit agencies on the landmark US$1.4 billion equivalent multi-currency limited recourse project financing of the Jorf Lasfar IPP Expansion in Morocco, and currently advises the lenders on the Safi IPP, also in Morocco. It has advised GDF Suez on the merger of its international energy division with International Power and on the acquisition by China Investment Corporation (CIC) of a 30% stake in its Exploration & Production division and of a 10% stake in the LNG Atlantic liquefaction plant in Trinidad and Tobago.
Linklaters is also one of the first firms to have created a team specifically dedicated to renewable energy within its international network, and is an active member of the French SER (Syndicate of Renewable Energy).
Other legal advisors
Watson, Farley & Williams LLP advised Glennmont Partners for the acquisition and financing aspects of the transaction. The team was led by Eric Villateau, Partner in banking and finance, and Romain Girtanner on tax aspects. They were assisted by Jean-François Tournier and Claire Gamain.
Hogan Lovells (Partner Francesco Stella and Solange Baruffi in Milan and Arnaud Deparday in Paris) advised Sorgenia in relation to the sale of the projects to Glennmont.
