Norton Rose Fulbright advises on the financing of pioneering Sustainable Aviation Fuel plant

Global law firm Norton Rose Fulbright is advising on the financing of SkyNRG's DSL-01 Project, a landmark Sustainable Aviation Fuel (SAF) production facility in Europe.

Acting on behalf of a syndicate of 12 lenders, the firm supported one of the region's most significant SAF financing transactions to date.

The new SAF plant will deploy advanced conversion technologies to produce high quality, low emission fuel that supports the decarbonisation strategies of leading airlines and contributes to broader aviation sustainability goals.

Key elements of the transaction included:

• This cutting edge facility will product SAF, enabling substantial lifecycle greenhouse gas emission reductions compared to conventional jet fuel.
• A complex, multi source project financing structure involving commercial lenders and strategic investors.
• Long term offtake agreements with a major airline, underpinning demand and supporting project bankability.
• A robust construction and operational framework designed to meet stringent sustainability and performance standards.

Norton Rose Fulbright's Amsterdam team advised on all aspects of the financing structure, project documentation, regulatory considerations and negotiation strategy.

The transaction was led by partners Wouter Hertzberger, Daphne Broerse and Marjolein Dieperink.

The wider Amsterdam team consisted of counsel Marjolein Pichel; senior associates Maaike Faase, Tamara Ubink, Annemarie VerLoren van Themaat-Creutzberg; and associates Rosalie Blaauw, Frances Hoogenberg, Bea Byrne Hill, Rik van der Laan, Yifrandy Sanchez Peralta and Leora Wit. London-based partner Nigel Dickinson and New York-based partner Christine Brozynski and their respective teams also advised in relation to this transaction alongside other colleagues in Amsterdam, London and Newcastle.

Wouter Hertzberger commented:

"We are proud to have supported our clients on a transaction that not only advances the energy transition in the aviation sector but also demonstrates how innovative financing structures can help scale the next generation of clean fuel production facilities. This project sets an important precedent for future SAF developments, and we are delighted to have worked alongside such a committed group of stakeholders to bring it to fruition."