International law firm CMS has advised consortium BNP Paribas Bank Polska S.A. and PKO Bank Polski S.A on an investment loan of PLN 257 million to Modus Poland Solar Fund I for the purchase of a portfolio of photovoltaic projects located throughout Poland.
Modus Poland Solar Fund I is a closed-end investment fund that invests in solar power plants, which owns a portfolio of photovoltaic assets in Poland. The company belongs to the Modus Asset Management group, a licensed and regulated asset manager specializing in renewable energy. They currently operate in the Polish market, the Baltics and some Central European countries.
CMS Poland's Banking and Finance team advised the consortium in preparing an investment loan agreement with collateral and a bank guarantee for a PPA. CMS Poland's Energy and Infrastructure team advised on the due diligence for one of the portfolios and on various energy regulatory aspects of the projects, including the bankability of the VPPA.
The CMS team was led by counsel Martyna Markiewicz from Banking and Finance practice, while due diligence work was headed by counsel Maciej Ziółkowski from the Energy and Infrastructure practice. The project was supervised by Michał Mężykowski, partner leading the CMS Poland’s Banking and Finance practice and Piotr Ciołkowski, partner in the Energy and Infrastructure practice.
The team was also composed of: Jakub Przybyłek, Kinga Smarduch and Maciej Lorenz (Finance), Piotr Prawda, Anita Szemraj, Anis Benamer, Bartłomiej Głąbiński, Andrzej Szostak, Jadwiga Lester (Energy and Infrastructure), as well as Damian Gierasimczuk (Corporate).
