Noerr advises syndicate of banks on debut syndicated financing for eno energy Group

A team from Noerr headed by Michael Schuhmacher has advised the members of a banking syndicate in connection with the conclusion of a debut syndicated loan agreement for the eno energy Group. The transaction was structured and arranged as a “club deal” by the Ostsächsische Sparkasse Dresden savings bank. Two of the other banks in the syndicate included Sparkasse Zwickau and Sparkasse Pforzheim Calw.

The eno energy Group will use the credit facilities provided to refinance part of its loans from the German Economic Stabilisation Fund and at the same time to secure its financial flexibility for new projects and further growth.

The credit facilities are backed by guarantees provided by the Federal Republic of Germany, the Free State of Saxony and the State of Mecklenburg-Western Pomerania. These guarantees cover 80 per cent of the banks’ default risk.

Since 1999, the name eno energy has stood for premium quality and innovative turbine technology in international wind farm projects. As an established specialist in individual energy solutions, eno energy provides independent and quality-conscious engineering services for every technical challenge and offers holistic solutions in the area of renewable energy. At six locations in Germany, around 300 dedicated employees work on the most efficient solutions for customers and produce durable and powerful onshore wind turbines (WTGs) in the 3.5 to 7.0 MW range.

With more than 25 years of expertise in the wind power segment, eno energy Group offers its customers an unrivalled range of services and is regarded as the industry’s one-stop shop. As the only European wind turbine manufacturer, the Group covers the entire value chain, from the planning of turnkey wind farms and planning and approval services to the complete handling of customised projects from a single source and in-house.

The eno energy Group will continue to develop as a wind power technology company and to strengthen its activities in the areas of R&D, sales and services.

Advisors to syndicate of banks: Noerr

Lead: Michael Schuhmacher (partner, Banking & Finance, Frankfurt)

Pinar Turkac-Christmann, Jonas Zinkand, Doreen Pape, Maria Bozhenova (all Banking & Finance, Frankfurt)

Tobias Dolde, Birgit Koßmann (both Intellectual Property, Alicante)

Advisors to eno energy Group: Schmitz Knoth Rechtsanwälte, advisors to the guarantors: PricewaterhouseCoopers GmbH