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WFW advises Infranity on €120m financing for 178 MW Italian solar PV portfolio24 May 2023

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Watson Farley & Williams (“WFW”) has advised Infranity SAS (“Infranity”), on behalf of its funds, on a circa €120m financing for the construction of a 178 MW portfolio of seven solar PV assets in Italy, owned by Peridot Solar Limited (“PSL”) a portfolio company of FitzWalter Capital Limited.

The transaction marks a key step in PSL’s aim to reach 5 GW of renewable capacity across Europe by 2026 through the development, construction and operation of renewable energy projects.

Infranity is an asset management company specialising in sustainable infrastructure investments that manages in excess of €8bn of assets under management on behalf of institutional investors.

The WFW London Energy team that advised Infranity was led by Global Energy Co-Head Henry Stewart working with Counsel James Harrison, Senior Associate Suki Rees, Associates George Garthwaite and Patrick O’Rourke and Trainee Teresa McGillivray. Partners Richard Stephens and Rob McBride advised on tax and hedging aspects of the transaction respectively. In Italy, Partner Mario D’Ovidio led the financing team that includes Counsel Matteo Trabacchin, Associates Amelia Garavaglia, Giulia Chiarvesio, Daniele Sani and Dario Matrecano and Trainee Marta Lomuscio. Due diligence and corporate advice was provided by WFW Italy Partners Tiziana Manenti and Luca Sfrecola, working with Senior Associates Cristina Betti and Anthony Bellacci, Associates Giovanni Benedetto, Antimo Rocco Nersita and Trainee Maria Concetta Molica. Italian tax advice was provided by Senior Associate Alfredo Guacci Esposito and Associate Fabiana Vietri.

Henry commented: “We are pleased to have advised Infranity on this important transaction. This success of this deal highlights WFW’s wealth of expertise across jurisdictions and service lines”.

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