European Energy has secured a EUR96.5 million (US$113.76 million) financing from the French financial service firm Natixis, for the 121.5 MW Troia solar PV project in Apulia.
The Troia solar farm in Apulia (near Foggia) was connected to the grid in June after a year of construction. The power plant is expected to offset up to 80,000 tons of CO2 emissions per year.
The financing operation is related to solar farms at a total of 121,5 MW in Apulia divided into three sections:
- Section A: 63 MW operating since November 2019. Entitled to receive feed-in-tariffs for 20 years under the 5th Conto Energia.
- Section B: 40 MW in grid parity completed in June 2020
- Section C: A total of 18,5 MW in grid parity to be finished by October 2020.
European Energy was assisted for this deal by GOB law firm, EOS srl, and Corafin spa acting as advisors.
Natixis assisted by Orrick for the structuring and negotiation of the facility agreement, while Fichtner provided technical advisory services.
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