The Trans Adriatic Pipeline (TAP) successfully completed financial close in December 2018, securing EUR3.9 billion (US$4.44 billion) - the largest project finance agreed for a European infrastructure project in 2018.
Energy Finance & Investment News in Italy
Enel Finance International N.V. (EFI), an Enel Group finance company controlled by Enel S.p.A., has successfully placed its third green bond on the European market, reserved for institutional investors and backed by a guarantee issued by Enel.
Danish developer European Energy has announced that it has entered a long-term framework agreement for the sale of electricity with Swiss utility Axpo. The agreement covers power generated by future European Energy-owned industrial solar PV farms in Italy with a combined capacity up to 300 MW.
Pan-European equity fund Marguerite II has invested in City Green Light, one of the largest private operators of public lighting in Italy. This follows the investment by Fondo Italiano per l’Efficienza Energetica (FIEE) – the first Italian equity fund entirely dedicated to investing in projects in the energy efficiency sector – in February 2018.
Ellomay Capital Ltd., developer of renewable energy and power projects in Europe and Israel, has announced the close of a EUR35.9 million (US$41.9 million) project finance deal to refinance five of its subsidiaries in Italy.
Enel Green Power and the F2i infrastructure fund, joint owners of Gruppo EF Solare Italia (EF), a leading photovoltaic operator in Italy, have announced the signing of an agreement to refinance EF’s debt with a pool of credit institutions.
Foresight Group has announced the first close of the Foresight Italian Green Bond Fund at EUR70 million (US$864.75 million).
Blue Elephant Energy AG (BEE) has acquired a 50% stake in a 20 MW wind farm in Italy from European Energy, through its affiliate BEEGO IPP GmbH. BEE now own 100% of the project.
Alps Energy RE Fund, which is managed by Serenissima SGR, has acquired Idroemilia Srl, owner of four hydropower assets in Italy with a total capacity of around 7.5 MW.
The European Investment Bank (EIB), the EU bank that finances projects in support of the European Union's objectives, has granted Edison a EUR 150 million (US$178,23 million) line of credit to finance the construction of wind farms with a total capacity of 165 MW by E2i Energie Speciali, owned by Edison and F2i.
ERG, through its subsidiary ERG Power Generation S.p.A., has signed an agreement with VEI Green, an investment holding company controlled by PFH S.p.A., with the participation of leading Italian institutional investors, for the acquisition of a 100% stake in ForVei, the ninth largest photovoltaic operator in Italy.
International law firm Watson Farley & Williams has advised UniCredit S.p.A. on the financing of a 54 MW wind plant located in Grottole Municipality, in the Basilicata region of Italy.
Banca IMI as Agent Bank, Mediocredito Italiano S.p.A., UBI Banca S.p.A. and Cassa dei Risparmi di Forlì e della Romagna S.p.A. has providede €60 million (US$ 70,37 million) project financing for a 25.2 MW biomass plant located in Sant’Agata di Puglia Municipality in Foggia, Apulia Region, Italy.
Glennmont Partners has successfully completed the refinancing of SER portfolio for €190 million (US$ 224 million), comprised of 245 MW of installed capacity. The transaction follows last month’s successful refinancing of Glennmont’s Sleaford biomass plant in the UK worth £150 million.
Prothea acted as financial advisor in the JV agreement between Genera and IKAV to create a leading energy efficiency player in the Italian market
Genera Group Holdings, a group active in the fields of energy efficiency and production, engineering and real estate development, has entered into a strategic Joint Venture with IKAV (Institut für Kapitalanlagen & Versicherungslösungen), a leading global green economy German fund with over €400 million of assets under management.
UK investment fund Basalt Infrastructure Partners II LP has established a new platform to invest in small-scale solar projects in Italy.
ContourGlobal has signed an agreement for the acquisition of a group of companies owning ~20MW of operational solar photovoltaic plants in Italy from ErgyCapital S.p.A.
Terna and the European Investment Bank (EIB) have signed an agreement for a €130 million (US$153 million) loan in support of investments for the public component of the Piedmont-Savoy project, the new 320 kV direct current electricity interconnector that will link Italy and France.
Building Energy 1 Holdings plc (Building Energy), a global, vertically integrated, renewables-focused independent power producer will receive around €70 million (US$81 million) from ZZ Capital International Ltd (ZZCI) and Zhongzhi Capital (ZZC). The investment was structured through the subscription for mandatorily convertible bonds and equity interests.
The European Investment Bank (EIB) board has approved €4.3 billion (~US$5 billlion) in financing for the development of energy projects, including renewables, in Europe and India.