UniCredit, BayernLB, and Siemens Financial Services through Siemens Bank have acted as mandated lead arrangers for each project financing through a club deal structure. The financing will provide €77 million of non-recourse senior debt, €41 million of VAT financing, and LC facilities for PPAs and PV modules.
The positive environmental impact of these four plants will translate into the production of 172 GWh 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.
“We are delighted to partner with UniCredit, BayernLB, and Siemens Bank for this initial set of projects as we build our existing 4 GW portfolio in Italy”, said Carlos Domenech, CEO of Enfinity Global.
Enfinity Global is currently building four additional projects in Italy, totaling 134 MW, in the province of Viterbo, Lazio, for which it previously closed €165 million in financing.
“We expect to invest 3 billion euros over the next 3 years in Italy as we continue to advance our projects”, commented 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.”
“BayernLB is delighted to further broaden our contribution to Italy’s clean energy ambitions with the successful closing of the second transaction for Enfinity Global in Italy,” commented Karin Schramm, Sector Head Renewable Energy at Bayern LB.
