Hogan Lovells Advised European Investment Bank On €1.185 Billion Debt Financing For Phase One Of Vulcan Energy’s Lionheart Project
Hogan Lovells advised European Investment Bank on €1.185 billion debt financing for Phase One of Vulcan Energy’s Lionheart Project
The global law firm, Hogan Lovells advised the European Investment Bank (EIB) on the financing of Phase One of the Lionheart Project of Vulcan Energy Resources Limited (“Vulcan Energy”), an integrated renewable energy and lithium extraction development located in the Upper Rhine Valley, Germany. The overall financing package for Phase One amounts to €2.2 billion.
The transaction forms a key component of Vulcan Energy’s broader €2.2 billion financing package for the Lionheart Project, designed to support the large-scale production of climate-neutral lithium and renewable energy in Germany. The EIB has committed up to €250 million in financing to this pioneering project, which represents one of Europe’s most significant initiatives in sustainable battery materials and geothermal energy. This commitment is part of the €1.185 billion senior debt financing package arranged by a consortium of 13 commercial banks, export credit agencies, and financial institutions.
Hogan Lovells acted as legal counsel to the EIB in its role as lender, advising on its financing documentation and all other aspects of the financing forming part of the wider financing structure. The project is expected to play a central role in securing a resilient, local, and environmentally responsible supply of lithium hydroxide for Europe’s battery industry, while simultaneously generating renewable heat and power based on deep-geothermal technology.
“The Lionheart Project is a milestone for Europe’s renewable energy and battery supply chain strategy. We are proud to support the EIB in enabling sustainable industrial innovation at this scale and to contribute to a project that has the potential to transform Europe’s domestic lithium production,” said Carla Luh (Partner, Hogan Lovells, Frankfurt).
The Hogan Lovells team was led by Dr. Carla Luh (Partner, Frankfurt), with support from Merve Schmitte (Lead Senior Associate, Frankfurt), Andrew Gallagher (Partner, London), Dr. Christian Knütel (Partner, Hamburg), and Gordon Liedel (Associate, Frankfurt) (all Infrastructure Finance).
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