International law firm Watson Farley & Williams (« WFW ») has advised Acofi Gestion, an asset management company, in respect of the €12.5m refinancing, by its fund Predirect EnR 2030, of five wind farms located in northern France which had been developed by Valorem and together have a combined output capacity of 55 MW.

This was the first operation carried out by Predirec EnR 2030, a euro bond fund dedicated to renewable energy infrastructure investment and operated by Acofi Gestion. This fund was awarded the “Energy and Ecological transition for the climate” (Transition Energétique et Ecologique pour le Climat (TEEC)) label and is intended to meet the needs of players in the wind and solar energy sectors for periods ranging from five to fifteen years and already has €45m at its disposal.

This bond issue which is redeemable over twelve years will allow Valorem to refinance part of the equity of certain operational wind farms and to continue to expand in France and abroad.

WFW assisted Acofi Gestion throughout all the stages of the bond debt structuring, in particular in respect of the negotiation and drafting of the bond debt documents.

The WFW team was led by finance partner Laurence Martinez-Bellet in collaboration with corporate partner Arnaud Félix (Corporate) and assisted by finance associates Lamia Benzine and Sébastien Hoff and corporate associate Inès Garcia de las Bayonas.