construction of 101 megawatt (MW) in four utility- scale solar plants in Lazio, Italy, according to a Dec. 4 press release.
The plants, expected to be operational in 2024, will produce 172 gigawatt-hours of clean electricity per year, enough to power 64,000 Italian homes and offset 69,000 tons of CO2 emissions—equivalent to the amount sequestered by 3,100 mature trees, the release stated.
The financing will provide €77 million (US$83.35 million) of non-recourse senior debt, €41 million (US$44.38 million) of VAT financing and letter of credit (LC) facilities for PPA’s and photovoltaic modules, the release added.
UniCredit, BayernLB and Siemens Financial Services through Siemens Bank acted as lead arrangers for each project’s financing through a club deal structure, according to the release.
"We expect to invest €3 billion (US$3.2 billion) over the next three years in Italy as we continue to advance our projects," said Julio Fournier Fisas, CEO for Europe of Enfinity Global. "Italy is a core strategic market for us, and we are looking to continue to grow our existing portfolio through in-house development, co-development agreements with partners and acquisitions."
Recommended Reading
NuStar Energy Unitholders Approve Merger with Sunoco
2024-05-02 - The transaction is expected to close on or about May 3, in which NuStar Energy LP will merge with and into a merger subsidiary of Sunoco LP.
Permian Resources Adds More Delaware Basin Acreage
2024-05-07 - Permian Resources also reported its integration of Earthstone Energy’s assets is ahead of schedule and raised expected annual synergies from the deal.
PGS, TGS Merger Receives Final Approval from UK Authorities
2024-06-11 - With regulatory conditions satisfied, PGS and TGS’ merger is expected to be complete July 1 and will establish the combined entity as a full-service geophysical data company.
Crescent to Offer $750MM in Senior Notes to Settle SilverBow Debt
2024-06-13 - Crescent Energy intends to use the proceeds to fund the cash portion of its merger with SilverBow Resources and to repay SilverBow’s outstanding debt at the time of the transaction’s closing.
PGS, TGS Merger Clears Norwegian Authorities, UK Still Reviewing
2024-04-17 - Energy data companies PGS and TGS said their merger has received approval by Norwegian authorities and remains under review by the U.K. Competition Market Authority.