Norton Rose Fulbright advises SUSI Partners and Luneos Green Energy on PLN 81 million VAT financing for PV projects in Poland

Global law firm Norton Rose Fulbright advised SUSI Partners, acting on behalf of SUSI Energy Transition Fund (SETF), and its portfolio company, Luneos Green Energy, on a PLN 81 million facility made available by mBank S.A.

The facility will be used for the financing of VAT payable in connection with the construction of a fully merchant 157MW solar PV portfolio in Poland.

Earlier this year Norton Rose Fulbright advised SETF and Luneos Green Energy on raising a Euro-denominated senior debt package to finance the construction of this portfolio, which was made available by P Capital Partners, a Swedish private credit provider, through its Transition fund (PCP). Norton Rose Fulbright has also advised SETF and Luneos Green Energy on negotiations of intercreditor arrangements between mBank S.A and PCP.

The transaction was led by senior associate Igor Kondratowicz and included associates Karolina Majcher and Daniel Książek. The Norton Rose Fulbright team worked under the supervision of energy and project finance partner Tomasz Rogalski.

SUSI Partners is an independent, specialist investment manager providing institutional investors with access to mid-market private infrastructure opportunities arising from the global energy transition. With over 15 years of activity and EUR 1.9 billion invested in more than 25 countries to date, the firm has a proven track record across the energy transition investment theme, achieving attractive risk-adjusted returns for its clients and their beneficiaries while contributing meaningfully to global climate change mitigation efforts.