Herbert Smith Freehills advises Renewable Power Capital on the closing of a c. €555 million financing of its 553MW onshore wind portfolio in Sweden

Leading international law firm Herbert Smith Freehills has advised long-standing client Renewable Power Capital (RPC), a London-headquartered pan-European renewable energy investment platform, on a c. €555 million (c. £474 million) financing for its 553MW onshore wind portfolio in Sweden.

The deal is one of the largest financing packages for a greenfield onshore wind portfolio in Europe. It marks RPC’s first long-term facility that covers both the construction and operation of a portfolio and another positive step forward for RPC’s Swedish flagship onshore wind cluster.

RPC’s portfolio comprises four wind farms in the Kramfors and Sollefteå municipalities, all of which are currently being constructed. Once completed, the projects will together provide green power to the equivalent of 182,000 households.

The Herbert Smith Freehills team was led by partner Helen Beatty, supported by senior associates Charlotte Whight and Alex Shindler-Kelly, and associates Amaryllis Tian and Dammy Sokale. The wider team included partner Nick May and associates Vladi Resnik and Konstantin Korennoy advising on hedging matters, partner and global head of ESG Silke Goldberg, of counsel Chris Davis and associate Jessica Matheret on corporate matters, and partner Tim Healey and associate Nikolai Nesterov on construction matters. Partner Louis de Longeaux and associate Dylan Shields advised on certain French law aspects of the transaction.

Helen Beatty commented: “It was a pleasure to advise Renewable Power Capital on this milestone transaction which will play a crucial role to continue to drive forward its decarbonisation agenda. The deal demonstrates our ability to draw upon a wide range of practice areas to seamlessly support clients further expanding within the renewable energy industry and in the energy transition.”

The firm has worked regularly with RPC since it was established in 2020, including supporting the client on its entry into the Polish onshore wind market and advising on their first investment into construction ready batteries in the UK.