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solar energy

WFW advises InfraGreen II on €15.7m bond financing

1 December 2015

EN | FR

Watson Farley & Williams (“WFW”) has advised InfraGreen II, a debt securitisation fund or “fonds commun de titrisation”, in connection with the bond funding of three solar and wind projects totalling €15.7m.

RGreen launched the new securitisation vehicle, InfraGreen II, with the aim of raising a total of €150m and invests in renewable energy greenfield and brownfield assets throughout France and in Europe.

WFW assisted InfraGreen II on their:

  • €2.2m bond issue for the refinancing of the “Le Ham” wind farm in Mayenne, which was developed by Akuo Energy and has a total capacity of 6MW,
  • €6m bond issue for the refinancing of the 9MW solar power storage facility, “Les Cèdres”, on the island of La Réunion, which was also developed by Akuo Energy, and
  • €7.5m bond issue for the refinancing of equity investments in “Cabreal” and “Seixal” , two solar power plants with a capacity of 21.8MW, developed by Neoen and located in Portugal.

The WFW team was led by tax partner, Romain Girtanner, assisted by partners Laurence Martinez-Bellet (Finance), Pascal Roux (Corporate) and Laurent Battoue (Public & Regulatory law) and senior associates, Marie-Laure Brun (Finance) and Anne-Kelly d’Amécourt (Corporate).

Partner Romain Girtanner commented: “Having advised RGreen for last the two years on a series of investments by its first vehicle, InfraGreen I, we are delighted to have also assisted them in connection with their mezzanine debt financing, which is an innovation in the renewable energy sector. The success of these projects results not only from our knowledge of the sector but also from our ability to combine different areas of expertise, so as to provide new market-relevant legal services.”