Advising OX2 on landmark 100 MW solar farm project in Poland

Financed by the energy transition bank NORD/LB, this initiative marks OX2's inaugural step towards becoming a hybrid Independent Power Producer (IPP), following its recent acquisition by EQT, one of the world’s largest private equity investors. The Rutki solar farm, strategically located in the south-west of Poland, is set to become a cornerstone of the country's renewable energy infrastructure.

Currently under construction, the Rutki solar farm is expected to be completed in early 2025, with full operational status anticipated by the end of the same year. Once operational, the solar farm is projected to generate approximately 108 GWh annually, which is equivalent to the yearly electricity consumption of roughly 22,000 households. This significant output will contribute substantially to Poland's renewable energy capacity, aligning with the nation's goals for sustainable energy development.

A&O Shearman is proud to have played a pivotal role in this landmark project, providing comprehensive legal support to OX2 throughout the financing, development, and construction phases. Financing advice was provided by a team led by Tomasz Kawczyński, which included Anna Pawelec, Olga Mrowiec and Karolina Piórkowska. Advice on the development and construction, as well as regulatory issues, was provided by a team led by Kamil Jankielewicz, which included Antoni Roszkowski, Mateusz Kwolek, Paweł Grzesik, and Julia Pytko, and supervised by Jarosław Iwanicki.

Kamil Jankielewicz, Counsel at A&O Shearman’s Warsaw office, commented, "OX2's achievement in securing financing and initiating the Rutki solar farm project is a remarkable step towards their goal of becoming a hybrid Independent Power Producer. This project not only demonstrates their ability to execute significant renewable energy projects but also contributes substantially to Poland's sustainable energy landscape. We are proud to have supported OX2 with our strategic advice and legal expertise, ensuring the project's successful development."

Tomasz Kawczyński, Partner at A&O Shearman's Warsaw office, added, "The Rutki solar farm project is a testament to our firm's ability to handle complex and significant transactions in the renewable energy sector. Our comprehensive legal support and collaborative approach at every stage of this transaction were key to the project's success; we are proud to contribute to Poland's sustainable energy future. We look forward to continuing our support for OX2 and other clients in their renewable energy endeavors."