Generali Global Infrastructure (on behalf of funds), Natixis CIB and UniCredit have closed more than €400 million ($440 million) of green-project financing aimed at refinancing, revamping and releveraging a 116-megawatt brownfield photovoltaic portfolio in Italy.
All the 144 photovoltaic plants are operational, connected to the grid and located across the Italian territory, yielding significant geographical diversification. The photovoltaic plants are operated by several SPVs and have been connected between June 2008 and March 2013, displaying positive operational track records.
The brownfield WT2 portfolio was originally purchased by Obton group through its affiliate WT II Senior, and subsequently refinanced with this green-loan financing. Following the acquisition of the WT2 portfolio, Obton Group became the fifth-largest player in the Italian photovoltaic market.
The portfolio has the potential to serve 50,000 households, with carbon dioxide savings of more