Sistema Rinnovabili and ING BANK N.V. have finalized a EUR32 million (US$32.77 million) project financing to fund the development of a 30 MWp solar photovoltaic (PV) project in the province of Viterbo, Lazio, Italy.
Sistema Rinnovabili selected ValeCap as its financial counsel, Gianni & Origoni for legal and contractual matters, and MBS Consulting as its market and PPA advisor. ING Bank N.V. was advised by EOS Consulting S.p.A. for the technical side. Albion assisted the bank as a documentary agent in the financing transaction and EY extended advisory for the drafting and negotiation of the supply contract.
Through a long-term supply deal that was finalized in collaboration with Axpo Italia, the 30 MWp solar farm will deliver renewable energy to an Italian industrial customer in the chemical sector for 10 years.
