MDDP advised on the new transaction of Optima Wind and Green Bear Corporation

MDDP experts Michalik Dłuska Dziedzic and Partners provided tax advice to Optima Wind and Green Bear Corporation Poland in the transaction of establishing the WindLight joint venture, which was established in cooperation with Eiffel Transition Infrastructure, an investment fund managed by Eiffel Investment Group. This is one of the largest and most significant transactions on the renewable energy market in Poland.

Optima Wind contributes to WindLight more than 1,1 GW of solar PV and wind projects at an early/mid-stage development and Eiffel Transition Infrastructure finances the critical development phase to obtain the necessary permits & authorizations. Both Optima Wind and Green Bear teams will oversee the development process until the projects are ready-to-build.

Through this new transaction, WindLight will develop a diversified portfolio of 14 projects, comprising 888 MW of PV projects and 266 MW of Wind assets. Once operational, these projects are expected to provide 370,000 Polish homes with renewable electricity, thereby contributing to avoiding the emission of the equivalent of up to 460,000 tons of CO2 per year. Eiffel will invest up to 20M€ in the portfolio via Eiffel Transition Infrastructure, its bridge equity fund launched in November 2022 and dedicated to the financing of the development of renewable energy projects across Europe.

In September 2023, the total capacity of renewable energy sources installed in Poland (including wind farms, water plants, solar panels, biogas and geothermal energy) is less than 26 GW.

The scope of MDDP’s support included comprehensive tax advice on the transaction. The work of the advisory team was led by Piotr Paśko in cooperation with Justyna Bauta-Szostak.

Tax support for the WindLight project fits into the implementation of the MDDP for the Earth initiative, under which we cooperate with our clients, business partners, non-governmental organizations and state authorities in the implementation of green projects, promoting best practices in business and developing innovative, pro-ecological and pro-social tax solutions and legal.