Orrick Advised ING Bank on £18.4 Million Financing of a Wind Farm in the United Kingdom

July.20.2018

A cross-border Orrick team of lawyers in Munich, Düsseldorf, and London advised ING Bank, a branch of ING-DiBa AG, on the £18.4 million debt financing of the Lilbourne wind farm in Northamptonshire, United Kingdom, with Union Investment being the sponsor.

Union Investment (Union Asset Management Holding AG) is the investment arm of the German DZ Bank Group and part of the cooperative financial services network. It has been founded in 1956 and is headquartered in Frankfurt.

Union Investment acquired the Lilbourne wind farm in 2015 from Germany based Energiekontor AG. The Lilbourne wind farm is located in agricultural land north and south of Yelvertoft Road and consists of five Senvion MM100 turbines with an installed generating capacity of 10MW.

The Orrick team was coordinated by finance partners Dr. Timo Holzborn (Munich, lead) and Dominic O'Brien (London) and included partners Ed Denny (tax, London), Dr. Stefan Schultes-Schnitzlein (tax, Düsseldorf), Dr. Nikita Tkatchenko (M&A and private equity, Düsseldorf), counsel Sebastian Meul (M&A and private equity, Munich) and associates Adeola Adeyemi (finance, London), Matthew Pearce (real estate, London), Dr. Markus Schmid (M&A and private equity, Munich), Mark Nash (energy and infrastructure, London), Markus Piontek (tax, Düsseldorf), Siobhan Sheridan (finance, London), and Olexiy Oleshchuk (capital markets, Munich).

Timo commented “Orrick is delighted to have advised ING on this major renewables financing. Renewable technologies continue to be a major driver for our Energy practice and this cross-border transaction demonstrates the team’s ability to drive transactions effectively to close.”