Dentons advised PKO Bank Polski on granting Obton A/S financing of up to approximately PLN 176 million for the construction of a portfolio of 72 photovoltaic (PV) farms located throughout Poland, with a total connection capacity of approximately 75 MW.

A Danish investor and developer of PV farms and Battery Energy Storage System (BESS) in Europe, Obton A/S has been actively involved in the development of Polish solar energy plants for several years, building significant capacity in the PV sector.

Dentons provided comprehensive support to the lender, covering the preparation, negotiation, and signing of financial documentation, including ISDA hedging documentation, as well as conducting due diligence on the investment.

The transaction, supervised by Banking and Finance partner Tomasz Zwoliński, was led by counsel Aleksander Haleniuk, who was also responsible for preparing the hedging documentation. Associate Krzysztof Chlebowski provided legal support for the transaction.

Project-related aspects of the transaction and due diligence were supervised by Christian Schnell, partner and Co-Head of Energy and Natural Resources practice in Warsaw, while Maciej Ziółkowski (counsel) led the work with support from Gracjan Bielawski, Aleksandra Pędzich (both associates) and Bartłomiej Książek (associate).

The in-house financing team from PKO Bank Polski comprised: Piotr Peć, Adam Kosmala, Michał Olszewski and Filip Jagiełło. The in-house transaction team from Obton A/S consisted of: Kenneth Kolvits, Martin Poscholann Christensen, Katarzyna Domańska and Tadeusz S. Staszewski.

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