Watson Farley & Williams (“WFW”) has advised Noy Infrastructure & Energy Investment Fund (“Noy Fund”), and its partner Nofar Energy (“Nofar”), on an investment agreement with Sunprime Generation, an Italian energy company specialising in the development, engineering, planning, construction and operation of rooftop and other types of solar installations.
The agreement will lead to the joint development, alongside medium-to-small local construction businesses, of solar pipelines in Italy with a combined installed capacity of up to 100 MW. It also includes the foundation an organisation to manage the construction of the project pipeline which is expected to become operational by 2025.
Noy Fund is Israel’s largest infrastructure fund, incorporating most of the country’s major institutional investors, including Altshuler Shaham, the Phoenix, Menora, Clal, Migdal, Amitim, Meitav Dash, Psagot, Halman Aldubi and Poalim Capital Markets, among others.
Nofar is an Israeli engineering company, which develops, certifies, builds and operates photovoltaic systems, primairly in the dual segment of the market (stored and rooftop power).
The multidisciplinary WFW Italy team that advised Noy Fund on corporate and regulatory matters was led by Italy Head and Partner Eugenio Tranchino, working closely with Corporate Counsel Luca Sfrecola and Senior Associate Cristina Betti. Administrative Law Partner Tiziana Manenti provided advice on the due diligence process, assisted by Associates Anthony Bellacci and Antimo Nersita.