International law firm Simmons & Simmons has advised the Prime Sustainable Infrastructure Debt Fund (PSIDEF) on a financing of around €11m for what is set to be one of Germany’s largest unsubsidised solar energy projects.
The mezzanine financing will support the late stage development of a 80 MWp solar PV project in Brandenburg, Germany which is being developed by a German developer accompanied by the financial advisor Capcora.
The project is set to commence construction in the second quarter of 2024, with a targeted commercial operation date of April 2025.
The transaction marks the third time in six months that Simmons has supported Prime on the financing of major photovoltaic projects and was led by partners Dr. Felix Biedermann and Dr. Jens Gölz with support from associates Robin Pichler and Isabel Ribeiro Mousinho.
Dr. Jens Gölz and Dr. Felix Biedermann, commented: “Our involvement in this transaction underscores the firm's dedication to facilitating sustainable development and its expertise in navigating the intricacies of environmental finance. Simmons’ role as the lender’s legal advisor was pivotal in ensuring a smooth and successful financial closure.”
