European Energy closes financing for Danish Vandel solar park

International law firm Watson Farley Williams (WFW) has announced it has advised HSH Nordbank AG on the financing of the Danish Vandel solar park. HSH Nordbank provided a long-term financing of €64.5 m to developer European Energy A/S for Vandel, which is located in the community of Vandel/Billund in Denmark.

The park consists of 126 solar PV installations and has been built by European Energy in 2015 with a total capacity of 50.4 MW.

Following the financial close of the project financing, Vandel was acquired from European Energy by Allianz Global Investors for a renewable energy fund it manages.

The WFW team was led by Hamburg-based partner Thomas Hollenhorst (Banking & Finance). He was supported by senior associate Alexander Wojtek, associate Dr. Paul-Vincent Hahn (both Banking & Finance, Hamburg). Hamburg-based partner Stefan Hoffmann and associate Carolin Woggon advised on project and corporate related aspects. For the Danish law aspects of this transaction, WFW worked closely with Danish law firm Bech-Bruun.

Thomas commented:

“We are delighted that we have been able to use our significant experience in cross-border energy projects to assist our long-standing client HSH Nordbank on their further business expansion in Scandinavia”.