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20 May 20242 minute read

DLA Piper advises Kommunalkredit on EUR20m development finance provision for 1.6GW battery storage portfolio

A cross-border team of DLA Piper lawyers has advised infrastructure and energy financier Kommunalkredit Austria AG (Kommunalkredit) on its EUR20m borrowing base facility provision, as Mandated Lead Arranger, for the WElink Group (WElink). The development financing will be used to fund a 12 plant, 1.6GW battery energy storage system (BESS) portfolio across Italy, of which 4 sites have already been acquired with the remaining 8 to follow.

The international DLA Piper team was led by legal director Laura Gordon and comprised senior associate Charlotte Eliades (London); legal director Sean McGrenaghan (Dublin); associate Maximilian Mitscherlich (Dublin); legal director Claudio D’Alia (Rome); lawyer Mariacarmela Timpone (Rome); partner Germana Cassar (Milan); partner Giovanni Ragnoni Bosco Lucarelli (Rome); and lawyer Ludovica Gennaro (Milan).

Laura Gordon, legal director at DLA Piper, comments: “As BESS continues to be recognised for the important and increasing role it will play in the global energy transition and ensuring grid stability, it was our pleasure to once again work with Kommunalkredit and WElink on the financing of this significant portfolio and its development pipeline. Our team continues to advise on a growing amount of innovative BESS solutions around the world, underscoring its ability to deliver across the spectrum of transitional energy infrastructure, facilitating a greener future. Congratulations to WElink on this exciting financing!”