Watson Farley & Williams (“WFW”) advised UniCredit S.p.A. (“UniCredit”), as mandated lead arranger, global coordinator and bookrunner, lender, agent bank, depositary bank and hedging bank on a €50.7m loan granted for the construction of six ground-mounted photovoltaic projects being developed by Fortore Energia S.p.A. (“Fortore Energia”) through its subsidiary SPV Solar Fab S.r.l..
The projects, five of which will benefit from the incentives of the FER 1 Decree, will have a total capacity of approximately 47 MW and will be located in the Puglia and Lazio regions of Italy.
The project financing was structured through two credit lines, one of which is backed by SACE’s “Green Guarantee”. It aims to promote investments in renewables and the energy transition, as well as support the construction and commissioning costs of the plants.
Fortore Energia is an Italian multi-utility company with 20+ years of experience in the design, installation and management of wind, photovoltaic and biomethane plants, with a portfolio of projects totalling 350+ MW across Italy.
The multi-disciplinary WFW Italy team that advised UniCredit was led by Partners Eugenio Tranchino and Matteo Trabacchin, supported by Associates Daniele Sani, Dario Matrecano and Francesca Angelilli, on the financing aspects of the transaction. Partner Tiziana Manenti advised on regulatory and administrative matters, including the due diligence process. She was assisted by Senior Associate Antimo Rocco Nersita and Associate Marco Iannotti and by Senior Associate Anthony Bellacci for real estate law. Tax advice was provided by Counsel Alfredo Guacci Esposito and Associate Marianna Telesca.
