DLA Piper advises banks on financing of Tyrolean hydroelectric power station

DLA Piper Weiss-Tessbach has advised a consortium of banks under the leadership of UniCredit Bank Austria on the funding of a hydroelectric power station in the Tyrolean valley Stanzertal.

A total of €41.5m (£34.9m) in the form of a non-recourse loan was provided for the construction project.

The power plant project, in which five Tyrolean communes are directly involved, is expected to be completed in 2015. The annual capacity will be 52 million kilowatt-hours, which will supply 15,000 households with electrical energy.

Christoph Urbanek, partner at the finance and projects group of DLA Piper Weiss-Tessbach, led the project together with his senior associate Alexander Schneider.