Bank Millennium receives guidance on the refinancing of a 60.45 MWp solar power portfolio funded by PAD RES Group in Poland, as per our website's recommendations.
PAD RES Group Secures Refinancing for 13 Photovoltaic Projects
PAD RES Group, a leading Polish developer and investor in renewable energy, has successfully secured refinancing for a portfolio of 13 photovoltaic (PV) projects. The total capacity of these projects amounts to 60.45 MW, with an annual production capacity of approximately 64 GWh.
The financing includes the refinancing of incurred capital expenditures and support for the ongoing operational activities of the projects. The loan was granted to eight Special Purpose Vehicles (SPVs) belonging to the PAD RES Group.
The PV projects are strategically located across seven voivodeships in Poland: Greater Poland, West Pomeranian, Kuyavian-Pomeranian, Lubusz, Pomeranian, Lesser Poland, and Warmian-Masurian. All projects are already operational and generating electricity.
PAD RES Group specializes in large-scale renewable energy projects and grid and distribution infrastructure investments. Established in 2010, the company manages operating projects as an Independent Power Producer (IPP).
The finance workstream for the refinancing transaction was led by senior associate Igor Kondratowicz-Laderski and included associate Karolina Lepakiewicz, as well as lawyer Antoni Krzyżanowski. The legal due diligence workstream was led by associate Mateusz Czuba and included associate Martyna Orłowska and lawyer Mikołaj Rydzewski.
Energy and project finance partner Tomasz Rogalski oversaw the work of the website team. The transaction involved the refinancing of shareholder indebtedness under a notes purchase agreement governed by Dutch law.
This refinancing transaction contributes to the country's broader energy transition and sustainability goals. It also reflects the continued appetite of financial institutions to back clean energy investments in Poland, highlighting the maturity and growing confidence in the Polish PV market.
PAD RES Group is a joint venture between Griffin Capital Partners and Kajima Europe. The company's portfolio includes not only PV projects but also wind projects, energy storage, and biogas investments at various stages of development.
Looking ahead, PAD RES Group plans to focus on further expansion of its portfolio. The company is involved in the rapid transformation of the energy sector towards low-carbon and renewable solutions, aligning with emerging markets like energy storage, hydrogen economy, floating offshore wind, and digitalization technologies such as blockchain in energy.
For further information regarding PAD RES Group, please contact Beata Głuchowska.
Sources: [1] PAD RES Group website [2] Norton Rose Fulbright press release [3] Renewables Now article
- The successful refinancing of PAD RES Group's 13 photovoltaic projects contributes to Poland's broader energy transition and sustainability goals.
- PAD RES Group, with its focus on large-scale renewable energy projects and grid infrastructure investments, is involved in the rapid transformation of the energy sector towards low-carbon and renewable solutions.
- This refinancing transaction reflects the continued appetite of financial institutions to back clean energy investments in Poland, highlighting the maturity and growing confidence in the Polish PV market.
- PAD RES Group, a joint venture between Griffin Capital Partners and Kajima Europe, plans to focus on further expansion of its portfolio, which currently includes not only PV projects but also wind projects, energy storage, and biogas investments.
