Solar plant in Italy. (Source: Shutterstock)
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."
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