PLMJ and Morais Leitão advise on Powerdot's green financing

PLMJ and Morais Leitão acted as legal advisers in structuring Powerdot's €165 million green financing. The funding will be used to expand Powerdot's network of electric vehicle charging points to more than 3,100 locations by 2026, improve technology and user experience, and increase the size of its team across Europe.

The funding will enable the development of one of the largest electric vehicle charging infrastructures and is a significant milestone in the advancement of sustainable energy solutions in various urban areas.

The financing structure is based on the Green Loan Principles defined by the Loan Market Association and includes a €165 million senior facility agreement - with an additional €60 million in an uncommitted accordion facility model.

The banking syndicate consisted of ABN Ambro, BNP Paribas, ING, MUFG Bank Societé Générale and Santander, which also acted as financial adviser and coordinator for this green loan.

PLMJ, together with Clifford Chance, advised Powerdot and ML, together with Gibson Dunn, advised the lenders on all aspects of the development and financing of this project.

The PLMJ team was led by André Figueiredo, partner and head of the firm's Banking and Finance and Capital Markets practices, assisted by partners João Marques Mendes (Energy) and Tomás Almeida Ribeiro (Corporate M&A). The team also included lawyers Nuno Morgado Pereira, Marta Spínola de Freitas and João Terrinha from the Banking and Finance team and lawyers André da Gama Loureiro and Mariana Teles from the Corporate M&A team.

Filipe Lowndes Marques, partner and head of the Banking and Finance practice, led the Morais Leitão team, which also included consultant Filipa Morais Alçada and associate Salvador Sampaio Fontes.
E&Y and McKinsey & Co. were also part of the team advising on the deal.

André Figueiredo, partner and head of PLMJ's Banking, Finance and Capital Markets practice, said: "We are delighted to have helped Powerdot achieve this important financial milestone. Powerdot's ability to deliver an optimised and future-proof charging infrastructure is an unprecedented project and the long-term benefits are enormous. We are confident that Powerdot's success will act as a catalyst to demonstrate the possibilities of decarbonisation in a sector that has tended to resist this transition."

Filipe Lowndes Marques, partner and head of Banking and Finance at Morais Leitão, said: "We are delighted to support the growth of a Portuguese success story: Powerdot is already one of the most important European players in the electric vehicle charging infrastructure sector and this transaction will allow it to continue its expansion and development."