Warsaw: Global legal practice Norton Rose Fulbright has advised Polish state-owned investment vehicle Polskie Inwestycje Rozwojowe S.A. (PIR) on the financing of construction of a new gas-fired CHP plant in Torun, Poland.

On 30 September 2015 EDF Polska and a fund managed by PIR - Fundusz Inwestycji Infrastrukturalnych - Kapitalowy Fundusz Inwestycyjny Zamkniety Aktywow Niepublicznych (FIIK), which is handling the capital for the “Inwestycje Polskie” programme - signed an investment agreement for financing of the construction of a new gas-fired CHP plant.

FIIK will become part of the SPV set up by EDF Polska to handle the investment. The total cost of construction of a new gas-fired CHP plant is estimated to be PLN 550m, of which PLN 275m will be covered by PIR, from the “Inwestycje Polskie” programme fund. The new gas-fired CHP plant is due to be commissioned in the first half of 2017. 250 people will be employed in the investment.

The Norton Rose Fulbright team advising on this transaction was led by Rafal Hajduk, partner and head of the Warsaw energy and infrastructure practice, assisted by Artur Jonczyk (of counsel), R. Adam Kozlowski (of counsel) and Grzegorz Filipowicz (senior associate).