Watson Farley Williams (“WFW”) has advised HSH Nordbank AG (“HSH Nordbank”) on the financing of the Danish Vandel solar park. HSH Nordbank provided a long-term financing of €64.5 m to developer European Energy A/S (“European Energy”) for Vandel, which is located in the community of Vandel/Billund in Denmark.

The park consists of 126 solar PV installations and has been built by European Energy in 2015 with a total capacity of 50.4 MW.

Following the financial close of the project financing, Vandel was acquired from European Energy by Allianz Global Investors for a renewable energy fund it manages.

The WFW team was led by Hamburg-based partner Thomas Hollenhorst (Banking & Finance). He was supported by senior associate Alexander Wojtek, associate Dr. Paul-Vincent Hahn (both Banking & Finance, Hamburg) and associate Carolin Woggon (Corporate, Hamburg). For the Danish law aspects of this
transaction, WFW worked closely with Danish law firm Bech-Bruun.

Thomas commented: “We are delighted that we have been able to use our significant experience in cross-border energy projects to assist our long-standing client HSH Nordbank on their further business expansion in Scandinavia”.