Gowling WLG France has advised investment company Kyotherm on a EUR 45 million financing agreement with Lecta, a leading European paper manufacturer and distributor.

Kyotherm specialises in renewable heat and energy efficiency projects and will finance up to EUR 45 million of Lecta's investment in a refuse-revived fuel (RDF) boiler at its Condat paper mill in the South West of France.

Once completed in 2024, the RDF boiler will reduce gas imports by approximately 280 GWh every year, avoiding 55.000 tonnes of CO2 emissions generated from fossil fuels.

Gowling WLG France partner Antoine Pampouille and associate Thi-Hong-Hanh Pham advised Kyotherm on the banking and finance aspects of this strategic energy transition project, with counsel Julie Vuagnoux advising on public law aspects.

Lecta was advised by Linklaters Paris, with the team comprising counsel Samuel Bordereau, partner Carole Nerguararian and associates Salimatou Kaba, Abdullah Konaté and Cyprien Laforêt.