Freshfields advises on €6.5bn Energiewende green financing for Amprion

Global law firm Freshfields has advised a banking consortium led by BNP Paribas, ING and UniCredit on a €6.5bn Energiewende green revolving credit facility agreement for Amprion.

Amprion is a leading transmission system operator in Europe. Its 11,000 kilometers-long, extra-high voltage grid extends from the North Sea to the Alps and spans seven federal states of Germany. It transports electricity for 29 million people.

With the new agreement, Amprion is embedding sustainability to which the company has been consistently committed for years into its core revolving credit facility. More than 90 percent of Amprion’s revenues must remain aligned with the EU Taxonomy for the company to maintain its “Green Pure Player” status over the lifetime of the facility.

The financing has an initial tenor of five years with two extension options of one year each and an incremental facility option of €2bn (all subject to the approval of each participating bank).

The Freshfields team was led by Partner Frank Laudenklos and Principal Associate Dennis Chinnow (both Finance, Frankfurt). They were supported by a team including Associate Beatrice Zobel (Finance), Partner Sebastian Röger, Principal Associate Sebastian Jung and Associate Nicolas Steinmeister (all Tax, all Frankfurt).