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CMS advises on one of the largest photovoltaic investment projects in Poland

11 October 2022

International law firm CMS has advised Spanish group Q-Energy on a project to build a photovoltaic farm in the municipality of Miłkowice (Lower Silesia Province). This is one of the largest investment projects of its kind in Poland.

CMS’s multi-level advice covered the entire scope of work - from conducting legal due diligence analysis of the project, to negotiating project agreements such as the EPC contract, the Operations & Maintenance (O&M) agreement for the photovoltaic farm, as well as advising on tax aspects, and finally preparing and negotiating financing documents. The project will be financed under the project finance formula.

Q-Energy is a leading fund manager focused on renewable energy, energy transition and sustainable infrastructure, which has previously financed similar investment projects in several Western European countries, including Spain, Germany, and Italy. The farm in the municipality of Milkowice is the first project Q-Energy constructs in Poland. It will be one of the largest photovoltaic power plants in our country - it will involve the installation of more than 170,000 panels connected by 1,200km-long cables, and its total installed capacity is expected to be 113 MW (87 MWac). The electricity produced by the plant is expected to be sufficient to meet the needs of 35,000 households.

The energy generated by the solar farm will be sold to Amazon under a long-term, corporate power purchase agreement (CPPA). Amazon is the world's largest corporate purchaser of renewable energy and this CPPA will help Amazon on its path to power its operations with 100% renewable energy by 2025, five years ahead of its original target of 2030.

The CMS team was led by Martyna Markiewicz and Kacper Stanosz supervised by Michał Mężykowski (Banking and Finance) and Piotr Ciolkowski (Energy and Projects). They were supported by a team of around 50 people, including Piotr Prawda, Magdalena Czenko, Adam Kędziora Adrianna Roszak, Louise Dalton and Freddie May (Energy and Projects) Klaudia Cholewa (Environment), Krzysztof Mrozik, Kamila Singer, Maciej Lorenz, and Przemyslaw Karolak (Banking and Finance), Ewa Świderska and Patrycja Sikorska-Tugcu (Financial Institutions and Services); and Paulina Karpińska-Huzior and Maciej Brezdeń (Tax).