Capital Stage, an independent solar park operator listed on the SDAX of the Deutsche Börse, has acquires two solar parks with a total capacity of 11 MW in the Piedmont region of northern Italy from an industrial group. International law firm Watson Farley & Williams has advised Capital Stage in the transaction.
The total investment volume of the acquisition, including project debt, amounts to €65.4 million (US$71.9 million).
This transaction represents the first tranche of a larger investment process which will be completed with the acquisition of two additional solar parks in the provinces of Alessandria and Cuneo, also in Piedmont.
In late July we reported that WFW advised Intesa Sanpaolo, acting as lender and agent, on the €42 million (US$46.4 million) financial restructuring of six special purpose vehicles (SPVs), as well as Banco di Napoli also, acting as lender, on three of the aforementioned restructurings.
The SPVs, all entirely owned by Belenergia S.A., own ten photovoltaic plants, with an aggregated capacity of 10 MW, located in the Apulia, southern Italy.