Norton Rose Fulbright has advised Polish state-owned investment vehicle Polskie Inwestycje Rozwojowe S.A. (PIR) on the execution of a preliminary investment memorandum with EDF Polska concerning the financing of a new gas-fired CHP plant in Torun, Poland.

The parties plan to create an SPV that will develop the approximately PLN 550 million project. PIR will provide PLN 275 million in financing under the Polish Investments programme.

A key objective of the Polish Investments programme is to provide financing for long-term and commercially viable infrastructure projects that contribute to the growth of GDP and help create new jobs in Poland.

The construction of the gas-fired CHP plant in Torun is set to begin this year. Its commissioning is planned to take place in the first half of 2017. The construction of this new CHP plant alone will create 250 jobs.

The Norton Rose Fulbright team on this transaction is led by partner Rafal Hajduk who heads the Warsaw energy and infrastructure practice, assisted by of counsel Artur Jonczyk who focuses his practice on M&A transactions and joint venture structures.