White & Case advises banking syndicate on €330 million financing of LEAG´s gas-fired power plant

Global law firm White & Case LLP has advised a banking consortium on the €330 million project financing of the Leipheim gas-fired power plant.

Lausitz Energie Kraftwerke AG (LEAG), Germany's second-largest electricity supplier, commissioned the power plant with a nominal capacity of 300 MW in summer 2023 to ensure security of supply in the future as part of the German energy transition. The power plant was built as one of four grid stabilisation plants in Germany to ensure grid stability following the closure of the last nuclear power plants and the parallel phase-out of coal.

LEAG's selected banking consortium has provided the project financing on the basis of an operating agreement with Siemens Energy. The project financing strengthens LEAG's investment capacity for future projects and the implementation of its ambitious transformation plans.

The White & Case team which advised on the transaction was led by partner Florian Degenhardt and included local partner Roland Arlt, counsel Beate Treibmann (all Hamburg) and Alexander Born (Frankfurt) and associates Dana Masberg (Hamburg) and Cora Wolff (Berlin).

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