10 December 2018
Watson Farley & Williams (“WFW”) has advised HSH Nordbank AG (“HSH Nordbank”) on the financing of the “Odin” wind farm in Sweden.
HSH Nordbank provided long-term KfW backed financing for the 68.4 MW farm, located approximately 15km southeast of Färila in the municipality of Ljusdal, Sweden. The project was built by Swedish developer OX2 and acquired by a fund managed by Aquila Capital, the alternative asset management division ofHamburg-based Aquila Group. The project has entered into a long term utility PPA with Axpo as offtaker.
Hamburg-headquartered HSH Nordbank is a commercial bank focussed on shipping, transportation, real estate and renewable energy.
The WFW Hamburg Banking & Finance team advising HSH Nordbank was led by Partner Thomas Hollenhorst, supported by Managing Associate Marcus Mützelburg, Senior Associate Dr Paul-Vincent Hahn and Associate Roman Schneider. The team worked closely with WFW’s Swedish correspondent law firm Vinge on the domestic law aspects of the transaction.
Thomas commented: “We are delighted to have advised our long-standing client HSH Nordbank once again on the financing of a Swedish wind farm. This demonstrates WFW’s expertise in advising on complex cross-border infrastructure projects in the Nordic region in particular”.