Clifford Chance

Clifford Chance advises the lenders on a circa €500 million solar plants portfolio financing for PowerField Netherlands B.V.

International law firm Clifford Chance has advised LBBW in relation to PowerField's capital raise of circa €500 million in structured equity and portfolio financing, enabling PowerField to add significant scale and realise its sustainability ambitions. The financing is designed to finance 500 MWp of solar plants within the next few years.

PowerField is a leading solar park developer that is expanding towards becoming an independent power producer. The company has almost 300 MWp of operational and ready-to-build solar projects in the Netherlands. PowerField base of operations is located in the Netherlands, though the company is expanding into multiple European countries. PowerField will use the funds to continue building an integrated platform where solar parks, EV charging stations and batteries work together in a complementary manner to contribute to a more sustainable and habitable world. Read more about this transaction here.

This transaction builds on Clifford Chance Amsterdam’s track record and sector expertise in solar parks. Recent project examples include advising Rabobank on the financing of two solar parks in Denmark, Blue Elephant Energy on the acquisition and financing of a 10 MWp construction-ready PV plant, and of six ready-to-build solar parks in the Netherlands with an overall capacity of 120 MWp, ING, Rabobank and KfW IPEX on the portfolio financing of rooftop solar panel projects installed by Sunrock, and more.

The Clifford Chance core team consisted of Mike Niekoop, Liesbeth Buiter, Lotte de Bruin, Mariam Al-Zubaidy, Carlijn Tenge, Gülsah Vural and Kris Soomers in Amsterdam. The wider cross-border team consisted of Nanette Rutgers, Dolyne Munyampeta (Projects), Esmée Oldenkamp, Charlotte Horsten (Notary), Robin Houtveen, Alec Sanderson (Tax), Angela McEwan, Sylvia van der Heyden and Danielle Stobie (Finance) in Amsterdam, Paget Dare Bryan and Rachel Robertson (Finance) in London, and Christof Häfner and Franziska Buchholz (Finance) in Frankfurt.