Bird & Bird advises ETIC on €6.5m PV portfolio financing

Bird & Bird advised ETIC Partners (ETIC), on behalf of the fund Energy Transition Europe II, in the finance of €6.5 million in junior debt to a 58 MWp photovoltaic portfolio owned by the Spanish group ID Energy Group in Hungary. The finance transaction has been carried out with an issuance of convertible bonds by a Spanish subsidiary of the group.

The transaction supports ID Energy Group’s transition to an independent power producer (IPP) model and aims to strengthen Hungary’s expanding renewable energy market. Bird & Bird acted as legal counsel on the transaction, with a joint team from Bird & Bird Spain and Bird & Bird Hungary.

This transaction was led by partners Fernando Gutiérrez Rizaldos (finance and financial regulation) with key support from Montserrat Turrado (tax), Daniel Arányi (energy regulatory), Csongor Tompa (banking & finance), senior associate Mihály Harcos (tax), junior associates Raquel Alcántara Román (finance and financial regulation), Blanca Martínez-Escribano García-Ripoll (tax) and associate Anna Hetyésy (banking & finance).

In the picture, from left to right: Fernando Gutiérrez Rizaldos, Montserrat Turrado, Daniel Arányi and Csongor Tompa.