Dentons has advised P Capital Partners (PCP) on providing a Euro-denominated senior debt package to project companies controlled by SUSI Partners, a Swiss fund manager specializing in sustainable energy infrastructure investments, acting on behalf of the SUSI Energy Transition Fund (SETF), for a 167 MW portfolio of photovoltaic and wind power projects in Poland.

The construction of most of the planned investments will start at the beginning of 2024, and the entire portfolio is expected to be fully operational at the beginning of 2025. All projects were brought to ready-to-build stage and will be constructed and operated by SETF portfolio company Luneos Green Energy (LGE), a joint venture between SUSI Partners and leading Polish energy transition partner Luneos.

PCP is a multi-strategy private credit investor based in Stockholm lending to LGE via its Transition Fund. The Transition Fund provides tailored financing solutions to projects and companies with the capacity to meaningfully contribute to society’s shift towards sustainability.

“Supporting PCP in providing this type of long-term financing to clean energy projects in the context of decarbonization efforts in Poland is a testament to our competencies in conducting complex transactions in the dynamically developing world of sustainable project financing,” said Tomasz Zwoliński, Partner in the Banking and Finance practice team at Dentons' Warsaw office.

The transaction, which included negotiating and concluding financial documentation, was supervised by Partner Tomasz Zwoliński, with support from Katarzyna Mazur (Senior Associate), Aleksandra Czyż (Senior Associate) and Daria Dąbrowska (Associate) from the Banking and Finance team. Dr. Christian Schnell, Partner and Co-Head of Europe Energy Sector Group, oversaw the project-related aspects of the transaction.

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