Noerr advises Swisspower Renewables on refinancing wind farm portfolio
A Noerr team headed by partners Sebastian Bock and Dr Alexander Schilling has advised its client Swisspower Renewables AG on refinancing a wind farm portfolio of 85 wind turbines in eleven wind farms. With this new loan financing the company is securing better long-term conditions.
The new loan financing of around €70m was provided by Deutsche Kreditbank AG (DKB) and consists of separate tranches for each wind farm. This financing structure allows the company full flexibility in replacing older turbines with new ones in the future (repowering).
Swisspower Renewables AG is held by eleven Swiss public utilities and an energy infrastructure fund. Swisspower Renewables AG has been operating in Germany since 2014, where it has established several wind farm portfolios with a total of 103 wind turbines and a total capacity of almost 200 MW generating around 350 GWh annually. Headquartered in Zurich, the company also has a branch in Berlin for operating the wind farms in Germany.
With its loan portfolio of €10.7bn, DKB is the largest financer of renewable energies in Germany. DKB has already financed more than 4,700 wind farms, solar parks and biogas plants, thus making a significant contribution to Germany’s energy transition.
Advisors to Swisspower Renewables AG
Banking & Finance
Sebastian Bock, Dr Alexander Schilling (team lead), Patrick Geist (Frankfurt)
Dr Tibor Fedke, Marcel Behringer (Berlin), Aleksandra Vujinovic (Frankfurt)
Dr Carsten Heinz (Munich)