Ashurst advises the lenders of VINCI Concessions on green project financing for EV-charging infrastructure

Ashurst provided legal advice to the lenders of VINCI Concessions on a green project financing for the Deutschlandnetz Regional contract, an electric vehicle charging infrastructure, in the amount of approximately €130 million. The tender by the Federal Ministry for Digital and Transport (BMDV) was part of the "Deutschlandnetz Regional" and is one of the largest in Europe. It aims to establish a nationwide, needs-based and user-friendly fast-charging network for electric vehicles throughout Germany.

VINCI Concessions has won three lots of the "Deutschlandnetz Regional" tender and has thus been awarded the contract for the installation and operation of 106 ultra-fast charging stations (400 kW output) with a total of 828 charging points in twelve of the sixteen federal states. The total investment amounts to around €200 million.

The green loan financing was issued in accordance with the LMA Green Loan Principles and on the basis of portfolio financing. It comprises bridge loans totalling approximately €60 million and a senior term loan of approximately €70 million. This financing will be used for both the construction and operation of the project, which demonstrates how VINCI Concessions can support the e-charging infrastructure sector with its innovative project financing capabilities and expertise.

VINCI Concessions is already active in Germany through its subsidiary VINCI Highways, which is the largest motorway concession operator in the country with five public-private partnerships (PPP) and a total of more than 200 km of motorways and federal roads in operation or under construction. The installation and operation of the fast-charging stations will be carried out by eliso GmbH, a subsidiary of VINCI Concessions.

The Ashurst team was led by partner Derk Opitz and counsel Dr Alexander Vorndran (both Frankfurt). They were supported by partner Kerion Ball , Associate Glenn Morrow (both London), transaction counsel Kerstin Hartmann and transaction lawyer Angela Sieling (both Frankfurt). 

Ashurst's German banking and finance practice advises banks as well as alternative lenders, private equity investors and corporates on domestic and cross-border acquisition, real estate, asset and infrastructure/project financings as well as financial restructurings and corporate loans.