Watson Farley & Williams (“WFW”) is delighted to announce that Beleolico S.r.L. (“Beleolico”), Italy’s first floating offshore wind farm, owned, developed and licensed by Belenergia Group (“Belenergia”), was inaugurated last week.
WFW has been involved with the Beleolico project since its inception in 2011, assisting Belenergia on due diligence phase and on the administrative aspects of the financing.
Beleolico, which comprises ten turbines with a total capacity of 30 MW, is located off the Polisectoral Pier in the southern city of Taranto. The project, which is based on innovative technology that uses floating platforms that cause no damage to the seabed, will produce 58,000 MWh per annum, equal to the annual energy needs of 60,000 people, saving 730,000 tonnes of carbon dioxide over 25 years.
The WFW Italy team that advised Belenergia was led by Energy Partner and Italy Head Eugenio Tranchino, working closely with corporate teams led by Partner Tiziana Manenti and Counsel Luca Sfrecola.
Eugenio commented: “We have had the honour to support Belenergia on this ambitious project since 2011. To see Italy’s first floating offshore wind farm finally go live, despite the many obstacles encountered during this ten-year journey, is a great success for both us and Belenergia”.