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WFW advises UniCredit on €35m energy production plant project financing9 June 2023

Watson Farley & Williams (“WFW”) has advised UniCredit S.p.A. (“UniCredit”) on a €35m project financing for an Italian energy production plant granted to Beleneregia subsidiary Enterra S.p.A.(“Enterra”).

Located in Foggia in the southern region of Apulia, the 13 MW plant produces electric and thermal energy from biomass. A unit to remove alcohol byproduct will be installed to extract the distilled alcohol produced during the biomass process. This alcohol will then be sold to other companies within the Belenergia group for the production of alcoholic beverages, ensuring even waste products are put to use.

Enterra is an Italian biomass company majority owned by Belenergia, a leading international producer of solar, wind and biomass renewable energy.

The multidisciplinary WFW Italy team that advised UniCredit was led by WFW Italy and Corporate Partner Eugenio Tranchino and Assets & Structured Finance Counsel Matteo Trabacchin. They were supported by Associate Dario Matrecano on the drafting of the project documentation, including the offtake agreement for the sale of the distilled alcohol, and Associate Daniele Sani and Trainee Marta Lomuscio on financial documentation. Corporate Partner Tiziana Manenti advised on the regulatory aspects of the transaction and legal due diligence process, assisted by Senior Associate Cristina Betti and Anthony Bellacci, Associate Antimo Rocco Nersita and Trainee Maria Concetta Molica.


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