White & Case LLP, a prominent international law firm, has recently provided legal advice to a banking consortium in the successful acquisition of a €330 million financing deal for the construction of the Leipheim gas-fired power plant. This notable project signifies a significant advancement in the efforts of Lausitz Energie Kraftwerke AG (LEAG), the second-largest electricity provider in Germany, to ensure a stable and sustainable energy supply for the future.
The power plant, with a nominal capacity of 300 MW, was commissioned by LEAG with the objective of fortifying future energy security in tandem with the German energy transition. Its construction is particularly crucial in light of the closure of nuclear power plants and the simultaneous phase-out of coal, as it will function as one of four essential grid stabilisation plants across Germany.
The successful securing of project financing was facilitated through an operating agreement with Siemens Energy and is expected to provide LEAG with enhanced investment potential for future projects, as well as enable the realization of the company’s ambitious transformation plans.
The esteemed team of legal experts from White & Case, led by partner Florian Degenhardt and including local partner Roland Arlt, counsel Beate Treibmann, and associates Alexander Born, Dana Masberg, and Cora Wolff, provided invaluable guidance and support throughout the transaction.
According to Florian Degenhardt, Partner at White & Case, “The project financing of the Leipheim power plant not only bolsters LEAG’s investment capacity but also promotes the realization of its pioneering objectives in the energy sector. It was a privilege for us to have been a part of this significant milestone.”
The significance of this financing deal cannot be overstated, as it not only holds substantial implications for LEAG and its future endeavors, but also contributes to the broader objectives of sustainable energy and environmental preservation.
For more information about this groundbreaking development, please reach out to your local media contact.
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