SR Investimenti announces the successful acquisition and refinancing of a 12 mwp solar pv portfolio through its sub holding company SR Investimenti 2

SR Investimenti, advised by Prothea, completed the acquisition and refinancing of a 12MWp solar PV portfolio with new additional Hold.Co. financing facilities provided by with Intesa Sanpaolo for a total amount equal to c. 31 EUR million.

The portfolio consists of 12 plants owned by 6 SPVs acquired by the sub-holding SR Investimenti 2 and benefits from Feed in Tariff regimes from 2nd Conto Energia. Geographically, the assets are located in southern and central Italy (Puglia and Umbria).

The refinancing included the anticipated repayment of two debt facilities previously in place with Investec and Unicredit while the new debt raised by SR Investimenti 2includes an additional Term facility of c. 27.7 EUR million, an additional DSR facility of c. 1.7 EUR million and a new VAT facility of ca. 1.8 EUR million.

Antonio Urbano, CEO of SR: “We are strongly committed both in the acquisition of operational assets and in refinancing activities as well as in the revamping and optimization of assets already in our portfolio with the most advanced technical solutions. We have also obtained the authorizations for the first large projects in market parity (about 100 MW in total) and we are in advanced stage to start the construction phase while codeveloping a pipeline in excess of 500 MWp of new capacity of utility scale photovoltaic plants.”

Prothea acted as exclusive financial advisor to SR while GOP acted as legal advisor and Kiwa Moroni & Partners as technical advisor.