Wind Turbine Blades

WFW advises KfW IPEX and SEB on the ECA-backed financing of a 60 MW wind farm in Silute, Lithuania

20 April 2015


Watson Farley & Williams (“WFW”) has advised a consortium of international banks on the € 91.3 million financing of a wind farm located in Silute, Lithuania. The consortium consisted of KfW IPEX-Bank GmbH, Frankfurt, SEB AG, Frankfurt, and AB SEB Bankas, Vilnius, Lithuania, as well as Skandinaviska Enskilda Banken AB (publ) as agent and security agent, while the wind farm was developed by Nelja Energia A.S, the biggest wind energy producer in the Baltic region.

The wind farm has a combined capacity of 60 MW, consisting of 24 GE wind turbines with a capacity of 2.5 MW each. The financing made available by the consortium of banks is guaranteed by Euler Hermes.

WFW, together with LAWIN as Lithuanian counsel, advised the banks on the financing documentation and prepared a legal due diligence.

The WFW team was led and coordinated by Hamburg-based Banking & Finance partner Dr. Stefan Kilgus, supported by senior associate Alexander Wojtek.

The lead partner, Dr. Stefan Kilgus, comments: “We are delighted to have advised KfW IPEX and SEB on this important ECA-backed financing deal in the wind energy sector in the Baltic region, thus continuing our successful and long-standing cooperation, in particular with KfW IPEX. We were delighted to expand our cooperation with SEB, which had previously consisted of advice in the offshore wind sector.”