Advisement rendered by White & Case to a banking consortium concerning financing arrangements for a sewage sludge treatment facility managed by Kommunale Nährstoffrückgewinnung Niedersachsen GmbH.
White & Case LLP, a global law firm, has taken on a key advisory role for a banking consortium in the financing of a modern mono sewage sludge incineration plant and an upstream sewage sludge drying plant in Hildesheim, Germany. The project is for Kommunale Nährstoffrückgewinnung Niedersachsen GmbH (KNRN), a company owned by 21 municipal shareholders who have entered into sewage sludge recycling agreements with KNRN.
The construction of these plants will help KNRN's shareholders comply with the legal requirements for thermal recycling of sewage sludge and phosphorus recovery, set for 2029 and 2032, respectively. The plants, designed for environmentally friendly recycling and disposal in the region, will feature efficient energy use, with electricity generated during sludge thermal treatment powering the plant, and any surplus electricity fed into the grid. The excess heat produced will be utilized via connection to Hildesheim's district heating network, contributing to reduced fossil fuel CO2 emissions locally.
The White & Case advisory team for the Hildesheim project was led by partner Florian Degenhardt from their Hamburg office, with counsel and associates from both Hamburg and Berlin contributing to the transaction. The service areas covered by the team include Project Development and Finance, Energy, and Western Europe, with a focus on Germany.
Dr. Beate Treibmann, specializing in Mergers & Acquisitions and Debt Finance, with a focus on Power and Energy, and counsel Christoph Arhold, who specializes in Antitrust/Competition, Litigation, and International Trade, were also part of the team advising on the transaction. Associates Dana Masberg and Robert Bente, who specialize in Project Development and Finance, Infrastructure, Transportation & Logistics, and Asset Finance, with a focus on Aviation and Energy, also contributed to the transaction.
White & Case has previously demonstrated its expertise and longstanding involvement in financing projects of this type, having advised a consortium of banks on the initial financing of a similar sewage sludge incineration plant for KENOW GmbH & Co. KG in Bremen's industrial port. This project, too, aimed to ensure an environmentally friendly recycling route and disposal of sewage sludge in the region.
KNRN is backed by 21 municipal shareholders who have also concluded sewage sludge recycling agreements with KNRN as suppliers. The plants in Hildesheim will play a crucial role in helping these shareholders meet the upcoming legal requirements for sewage sludge recycling and phosphorus recovery.
- White & Case LLP, being a global law firm, has assumed an advisory role for a banking consortium in the financing of the sewage sludge incineration and drying plants of KNRN, a company adhering to sewage sludge recycling agreements with 21 municipal shareholders.
- The White & Case advisory team, led by partner Florian Degenhardt, includes counsel and associates specializing in Project Development and Finance, Energy, and Western Europe, particularly Germany.
- Dr. Beate Treibmann, specializing in Mergers & Acquisitions and Debt Finance with a focus on Power and Energy, and counsel Christoph Arhold, specializing in Antitrust/Competition, Litigation, and International Trade, were part of the White & Case team.
- Associates Dana Masberg and Robert Bente, specializing in Project Development and Finance, Infrastructure, Transportation & Logistics, and Asset Finance, with a focus on Aviation and Energy, also contributed to the transaction.
- The plants, designed for environmentally friendly recycling and disposal, will benefit from efficient energy use, generating electricity during sludge thermal treatment and feeding surplus into the grid.
- The legal services provided by White & Case will help KNRN's shareholders comply with the legal requirements for thermal recycling of sewage sludge and phosphorus recovery, set for 2029 and 2032, respectively.
- The firm's previous work includes advising a consortium of banks on the initial financing of a similar sewage sludge incineration plant, aiming for an environmentally friendly recycling route.
- The plants in Hildesheim will be crucial for the shareholders to meet the upcoming legal requirements for sewage sludge recycling and phosphorus recovery, playing a significant role within the industry.
- Any excess heat produced by the plants will be utilized via connection to Hildesheim's district heating network, contributing to reduced fossil fuel CO2 emissions locally.
- By setting the example with these projects, White & Case is offering its extensive legal services to the business sector, notably in fields like finance, energy, and antitrust, among others, on an international level.
