Watson Farley & Williams (“WFW”) has advised HSH Nordbank on all relevant legal and tax aspects of the financing of the 57.7 MWp solar power portfolio “La Coste”, located in France. It is the second renewable energy deal in France with the same developer on which WFW has advised HSH Nordbank recently, having previously advised on the financing of the construction and operation of an 8.2 MW wind farm in Saint Congard.

The solar portfolio financing of over €75 million, which was partly re-financed by KfW, involved six photovoltaic power plants developed by BayWa r.e. renewable energy Gmbh (“BayWa r.e.”) in the south west of France. The combined capacity of the six solar farms is 57.7 MWp. This project has now been sold by BayWa r.e. to a fund managed by Allianz Global Investors.

The Saint Congard wind farm was developed by BayWa r.e. in the Département Morbihan in Brittany. It consists of four Senvion MM92 wind turbines with a combined capacity of 8.2 MW. The €13.2 million loan was partly re-financed by KfW.

WFW’s international team was led by Hamburg partner Thomas Hollenhorst (Banking & Finance). He was supported by partners Laurence Martinez-Bellet (Banking & Finance, Paris), Laurent Battoue (Regulatory, Paris), Romain Girtanner (Tax, Paris) and Daniel Marhewka (Corporate, Munich) as well as associates Marcus Mützelburg (Banking & Finance, Hamburg), Dr. Jan-Eike Andresen (Corporate, Munich), Marie-Laure Brun (Banking & Finance, Paris), Julien Criard (Regulatory, Paris) and François Danzin (Tax, Paris).

WFW lead partner Thomas Hollenhorst, said: “We are delighted to having been able to advise our longstanding client HSH on the financing of two further international renewable energy projects. Once again, we have worked seamlessly and in close co-operation with our experienced energy team in WFW’s Paris office.“