Banca Popolare di Milano (BPM), Italy’s second largest co-operative bank, has financed two biogas plants owned by Fri-El Group, an Italian electrical energy producer from renewable sources.
The two plants, with an aggregate value of €6 million (US$6.6 million), will provide electrical energy to municipalities of Crevalcore (Emilia-Romagna, NE Italy) and Villacidro (Sardinia) where they are located.
International law firm Watson Farley & Williams (WFW) advised BPM on the project financings.
The WFW Italy team advising BPM was led by finance partner Pierpaolo Mastromarini.
“We are delighted to have successfully advised our client on a transaction that confirms that, notwithstanding the complexities of the sector, biogas remains attractive to investors who recognize it as an important strategic asset”.