White & Case advises Sunly on €300 million financing of renewables assets portfolio in Poland and the Baltics

Global law firm White & Case LLP has advised renewable energy producer Sunly AS on a €300 million portfolio financing to promote the construction of its 1.3 GW pipeline of solar, wind and battery energy storage system facilities across the Baltics and Poland.

"This financing supports Sunly's ambitious growth plans and helps accelerate the construction of hybrid renewable energy parks across the Baltic States and Poland," said White & Case partner Carina Radford, who led the Firm's deal team. "The project is another example of the leading role White & Case is playing in the European energy transition story."

Sunly intends to use the €300 million portfolio financing in combination with separate project financing packages to develop various integrated hybrid parks that combine wind, solar and energy storage batteries at single connection points, with direct lines to consumers, to improve energy production stability in various weather conditions and optimise cost-efficiency by reducing grid connectivity charges.

The financing is provided by Rivage Investment via REDI HR2 and the Infrastructure Climate Solutions Fund and Copenhagen Infrastructure Partners (CIP) through its Green Credit Fund 1, with additional participation from Norway's largest pension company Kommunal Landspensjonskasse (KLP) through funds managed by CIP.

The White & Case team in London that advised on the transaction was led by partner Carina Radford and included associates Hannah Bragge, James Foo and Benjamin Rodin.

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