EOS Investment Management refinances solar portfolio in Italy

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EOS Investment Management refinances solar portfolio in Italy

EOS Investment Management (EOS IM) has signed with Intesa Sanpaolo a medium to long-term agreement to finance part of the portfolio of the fund Efesto Energy, managed by EOS IM.

The fund currently has 24 photovoltaic plants in ten Italian regions, with a total capacity of 27 MW and for a value higher than €65 million.

The financing, which amounts to €40 million (US$44 million), was structured and coordinated by Banca IMI - the investment bank of the Intesa Sanpaolo Group - which acted as Mandated Lead Arranger and Agent Bank.

Obtaining this loan is an important step towards achieving the EOS IM Development Goals. The company aims to improve the efficiency of the current financial structure of the fund.

The current portfolio of Efesto Energy produces a total of about 37 million kWh per year, saving nearly 21 tonnes of CO2 emissions and providing energy to over 13,000 households.

The legal advisors were Studio Fontana Galli & Associati for Banca IMI, and Grimaldi Studio Legale EOS IM.

Allen & Overy Studio Legale Associato and Studio Giussani A.C. acted as tax advisor to EOS IM.

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