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10 Oct 2025

Hogan Lovells Advises SHS Group on €1.7 Billion Financing for Major Steel Industry Decarbonization Project

"Hogan Lovells has advised SHS Group on a €1.7 billion financing for its Power4Steel decarbonization project, one of Europe's largest initiatives in the steel sector. The project aims to transform the German steel industry by replacing traditional production methods with direct reduction and electric arc furnace technologies, significantly reducing CO₂ emissions. The financing includes contributions from the German government and a consortium of banks, marking a significant step towards climate-neutral steel production in Saarland."

**Law Firms Involved:** Hogan Lovells advised SHS – Stahl-Holding-Saar GmbH & Co. KGaA (SHS Group) and its subsidiaries, Saarstahl Aktiengesellschaft and Aktien-Gesellschaft der Dillinger Hüttenwerke, in a significant financing transaction. **Transaction Overview:** The transaction involved the financing of the Power4Steel project, a flagship decarbonization initiative aimed at transforming the German steel industry. The total financing for this project amounts to €1.7 billion and is part of a larger €2.6 billion funding initiative supported by the German federal government and the state of Saarland. The financing package includes export credit facilities backed by Österreichische Kontrollbank (OeKB) and SACE S.p.A., as well as commercial facilities provided by a consortium of leading banks. The Power4Steel project will facilitate the installation of a direct reduction plant and two electric arc furnaces in Saarland, significantly reducing CO₂ emissions in steel production. **Legal Team:** The Hogan Lovells team comprised the following lawyers: - Dr. Carla Luh (Partner, Infrastructure / Finance, Germany) - Merve Schmitte (Lead Senior Associate, Infrastructure / Finance, Germany) - Stipe Bojanic (Counsel, Infrastructure / Finance, Germany) - Amy Wienke (Senior Associate, Infrastructure / Finance, Germany) - Edris Zewari (Associate, Infrastructure / Finance, Germany) - Julian Schulz (Associate, Infrastructure / Finance, Germany) - Dr. Maximilian Frystatzki (Senior Associate, Corporate / Finance, Hamburg) - Romain Marchand (Partner, Infrastructure / Finance, Paris) - Noémie Lisbonis Boyer (Senior Associate, Infrastructure / Finance, Paris) - Alexia Legrand (Associate, Infrastructure / Finance, Paris) - Dr. Marc Schweda (Partner, Regulatory, Hamburg) - Dr. Ingmar Dörr (Partner, Tax, Munich)
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