BEE acquired and completed refinancing of Italian solar portfolio

Hamburg-based Blue Elephant Energy (BEE) has acquired and operates renewable energy projects, most notably in the wind and solar sectors where its current portfolio has a combined installed capacity of circa 500 MW. Munich-based Bayern LB is one of Germany’s six publicly regulated Landesbanken and its seventh-largest financial institution.

The portfolio comprises five SPVs that own seven operational PV plants across Italy, including in the Puglia, Lazio, Sicily, Marche, and Abruzzo regions.

Watson Farley & Williams (WFW) has advised BEE on a EUR38.5 million (US$43 million) project financing granted by Bayern LB. Eversheds Sutherland London advised Bayern.