White & Case LLP has advised Nadara on an approximately €1.2 billion equivalent pan-European platform refinancing covering 47 operating wind and solar photovoltaic plants across seven European markets.
The transaction consolidates 1.5GW of installed capacity in Italy, the United Kingdom, France, Spain, Sweden, Norway and Finland within a single financing framework. Nadara announced on 28 July 2026 that it had reached financial close, while White & Case confirmed its advisory role on 3 August. The portfolio comprises 34 onshore wind farms and 13 solar photovoltaic plants.
White & Case partner Elizaveta Bazarova and associate Azamat Gaysenov led the legal team, supported by Luca Credentino, Bethany Carter, Priyanka Bhat and Jennifer Tang. Anthony Colegrave, Lara Taylor, Celine Ng and Jeffrey Cheung advised on the transaction’s hedging aspects, with Morvyn Radlow also providing assistance.
Lawyers including Luca Maffia, Fernando Navarro, Amaury de Feydeau, Alexander Berlin-Jarhamn and Tanja Törnkvist provided regional support from the firm’s European offices.
Nadara said the refinancing gives it greater financial flexibility and a scalable platform through which it can integrate new assets, pursue repowering, hybridisation and battery storage opportunities, and support organic and acquisition-led growth. For the legal sector, the structure shows how renewable energy financings can bring diversified operating assets across several legal systems into one platform.
Comparable transactions require solicitors and in-house counsel to coordinate reviews of property rights, planning permissions, grid connections, power purchase agreements, subsidy arrangements, insurance cover and security packages. Differences in local consent requirements and enforcement rules also make consistent due diligence and a clear division of responsibility between lead and local counsel essential.
The hedging work also shows why finance and derivatives documentation must be considered together. Facility agreements, intercreditor terms, payment waterfalls and hedging arrangements may need to operate as a single structure so that currency and interest-rate risks are addressed without creating conflicting payment or enforcement rights.
Barristers may be instructed where questions arise over enforceability, priority or conflicts between national regimes. Law firm management must also ensure that multi-office teams apply consistent document standards, conflict procedures and reporting controls while working to one transaction timetable.
In-house counsel advising renewable energy businesses should test platform structures against the client’s future investment plans rather than treat financial close as the end of the exercise.
Future additions, disposals or storage projects will place continuing demands on project finance, regulatory, real estate, tax and derivatives lawyers, particularly where new assets must be incorporated without reopening the full financing package.