Financing announced for hydroelectric portfolio in Italy

BPER Banca and MPS Capital Services Banca per le Imprese S.p.A. have provided €16 million (US$17 million) project financing for the construction and management of a portfolio of four hydroelectric plants with the total capacity of circa 7.5 MW.

Watson Farley & Williams (WFW) law firm advised BPER Banca and MPS Capital Services Banca per le Imprese S.p.A. on the structuring of the project financing. The financing provided a tailored structure designed to accommodate the different stages of development of the four plants: one operative, one under construction and two awaiting authorisation to begin production.

The plants are owned by Idroemilia S.r.l. and will provide electricity to the provinces of Reggio Emilia and Modena (Emilia Romagna Region, Italy).

BPER Banca is a commercial and co-operative bank and the parent bank of the BPER Group, one of Italy’s leading banking groups focusing primarily on small and medium enterprises with a strong international client base.

MPS Capital Services Banca per le Imprese S.p.A. is the corporate and investment banking arm of MPS Group, Italy’s third largest banking group.