DLA Piper advises LBBW on syndicated financing for two onshore wind projects

DLA Piper has advised Landesbank Baden-Württemberg as sole leader arranger, agent, security agent and lender on the syndicated financing of two wind farms in the municipalities of Bad Berleburg (North Rhine-Westphalia), both planned and developed by WestfalenWIND. The overall project consists of 32 wind turbines and, with a total output of 212.4 megawatts, is one of the largest onshore wind projects in Germany. The total financing volume amounted to approximately EUR 460 million, including long-term financing, construction financing and decommissioning guarantees. Upon completion, the two wind farms will cover the annual electricity needs of a total of 142,000 households.

Landesbank Baden-Württemberg (LBBW) is one of Germany's largest commercial banks and the central bank for the savings banks in Baden-Württemberg, Rhineland-Palatinate and Saxony. It offers a wide range of financial services for companies, institutional clients and private customers, with a particular focus on SME financing and capital market business.

WestfalenWIND GmbH, based in Paderborn, is a company that has been promoting the expansion of renewable energies in North Rhine-Westphalia since 2009. It plans, operates and markets wind energy and photovoltaic systems, produces green electricity and operates climate-neutral data centres in wind farms. WestfalenWIND pursues a citizen wind philosophy that promotes local participation and economic benefits for communities in the region.

The DLA Piper team was led by partner Dr Wolfram Distler (Finance, Frankfurt) and senior associate Gabriela von Wietersheim (Finance, Cologne) and also included partners Michael Cieslarczyk (Finance, Düsseldorf) and Dr Manuel Indlekofer (Real Estate, Munich), Counsel Christopher Ollech (Finance, Cologne) and Kais Torchani (Finance, Frankfurt), Senior Associate Dr Lilian Gutkin (Real Estate, Munich), Associates Julia Ambs (Real Estate, Munich), Niklas Cöln (Finance, Cologne) and Transaction Specialist Pauline Nicolay (Finance, Frankfurt).