Linklaters on the world's first limited recourse financing for the deployment of electric vehicle charging stations

Linklaters has advised EV Cars (a subsidiary of Meridiam) and Meridiam as part of EV Cars' project to deploy more than 200 fast and ultra-fast charging stations for electric vehicles in the car parks of the Carrefour group's hypermarkets in France, which is expected to be completed by the end of 2023 (approximately 2,000 chargers).

Linklaters LLP (Paris) first advised Meridiam and EV Cars on the structuring of the partnership with the Carrefour group and on the leases to be concluded in the context of this partnership with the entities of the Carrefour group.

Linklaters LLP (Paris) then continued to assist Meridiam and EV Cars by structuring, drafting and negotiating the project documents entered into with the Allego group (i.e. construction contract, operation and maintenance contract and interface contract) and further structured, drafted and negotiated the financing raised on limited recourse basis to finance the construction and the deployment of the project with French and foreign credit institutions, which financing constitutes a world first in the sector. The equity bridge facility is provided to EV Cars by BRED and Société Générale while the project and VAT facilities are provided by Arkéa, Banco Santander, BBVA, BRED, CACIB and La Banque Postale.

The Linklaters team was led by Darko Adamovic (partner), with Aymeric Voisin (managing associate), Etienne Paletto (associate) and Abdullah Konate (associate) for the partnership and project contracts aspects, and Pauline Portos (managing associate), Etienne Paletto (associate) and Abdullah Konate (associate) for the financing aspects. Vincent Poilleux (counsel) handled the implementation of the hedging instruments.

Françoise Maigrot (partner) and Saadoun Alioua (associate) were involved on the real estate aspects and Pierre Guillot (partner) and his team advised on the regulatory aspects.