Ashurst Represented The Lenders Of VINCI Concessions On Green Project Financing

Ashurst Represented The Lenders Of VINCI Concessions On Green Project Financing

Ashurst, a global legal firm, provided advisory services to the lenders of VINCI Concessions in a groundbreaking green project financing deal. The project pertains to the Deutschlandnetz Regional contract, which focuses on developing an electric vehicle charging infrastructure. The financing amount involved is approximately €130 million.

The tender for this project was initiated by Germany’s Federal Ministry for Digital and Transport (BMDV) and stands as one of the largest initiatives of its kind in Europe. The overarching goal is to establish a comprehensive, user-friendly, and nationwide fast-charging network for electric vehicles across the country.

VINCI Concessions emerged victorious in three segments of the “Deutschlandnetz Regional” tender. As a result, they secured the contract for deploying and managing 106 ultra-fast charging stations with an impressive 400 kW output. These stations will collectively offer 828 charging points distributed across 12 out of the 16 federal states. The total investment committed to this ambitious endeavor stands at approximately €200 million.

The green loan financing adhered to the LMA Green Loan Principles and was structured as portfolio financing. It encompasses bridge loans totalling around €60 million, along with a senior term loan of approximately €70 million. These funds will serve the dual purpose of financing both the construction and operation of the project. This strategic move underscores VINCI Concessions’ commitment to bolstering the e-charging infrastructure sector through its innovative project financing expertise.

VINCI Concessions has a significant presence in Germany via its subsidiary, VINCI Highways. As the country’s largest motorway concession operator, VINCI Highways manages five public-private partnerships (PPP), overseeing a network of over 200 km of motorways and federal roads that are either operational or currently under construction. The responsibility for installing and operating the fast-charging stations falls to eliso GmbH, another subsidiary of VINCI Concessions.

Ashurst assembled a team led by Partner Derk Opitz and Counsel Dr Alexander Vorndran (both based in Frankfurt). They received support from Partner Kerion Ball and Associate Glenn Morrow (both located in London), as well as Transaction Counsel Kerstin Hartmann and Transaction Lawyer Angela Sieling (both based in Frankfurt).

Ashurst’s German banking and finance practice provides advisory services to banks, alternative lenders, private equity investors, and corporations. Their expertise spans a wide range of areas, including domestic and cross-border acquisition, real estate transactions, asset and infrastructure/project financings as well as financial restructurings and corporate loans.