Augusta & Co is pleased to announce the closing of the sale of Kobylnica, Subkowy and Nowotna operating onshore wind farms in Poland to PKN Orlen. Augusta acted as the exclusive financial adviser to Taiga Inversiones Eólicas, S.C.R. S.A. (“Taiga Mistral”) and Santander Energías Renovables I, S.C.R. S.A. (“Banco Santander”).
The wind farms, located in the Pomerania region, were developed and built by Taiga Mistral and connected to the grid between 2011 and 2015. They benefit from the green certificate support system in Poland and long-term non-recourse project finance from a local bank.
Mortimer Menzel, Partner at Augusta, said: “We were delighted to advise Taiga Mistral and Banco Santander on this strategic exit. The transaction confirms the growing attractiveness of the Polish renewable energy market and builds further on Augusta’s experience in the region.”
Jaime Blas, CEO at Taiga Mistral commented: “Augusta provided an agile and experienced team who responded efficiently to the demands of the deal and delivered throughout the process.”