CMS advises ING and Helaba on financing of Green Rocks data centre in Mainz
Frankfurt/Main – CMS has advised ING Bank and Helaba Landesbank Hessen-Thüringen on the financing of a state-of-the-art and sustainable data centre in Mainz. The financing totalling EUR 600 million is being provided by Helaba Landesbank Hessen-Thüringen and ING as the leading banks. This comes in the form of a green loan according to the use-of-proceeds principle, meaning that the funds provided are earmarked for sustainable projects, such as the construction and operation of the energy-efficient data centre. This ensures that the financing meets the high environmental and climate protection requirements.
The Green Rocks project is bringing a state-of-the-art and sustainable data centre to Mainz. The project is being realised by a joint venture consisting of the Norwegian data centre operator Green Mountain and the energy supplier KMW (Kraftwerke Mainz-Wiesbaden AG).
A CMS team led by Dr André Frischemeier advised ING Bank and Helaba Landesbank Hessen-Thüringen on all aspects of the financing, including on preparing and reviewing facility agreements and due diligence reports as well as coordinating conditions precedent and drafting direct agreements. In addition, CMS has advised on issues of public law, energy efficiency and the integration of waste heat recovery agreements.
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