BayWa r.e. secures finance for 53MW Italian solar
- Nord/LB has actually given the EUR56m structured financing deal for the project in Lazio
BayWa's renewables arm and business financial institution (Norddeutsche Landesbank) Nord/LB have finished the EUR56m financing of a solar farm in Italy.
The 53MW project in Tarquinia, in Lazio, is the first of BayWa r.e.'s solar projects in Italy to be constructed making use of organized financing.
Nord/LB was picked by BayWa r.e. following a mindful option procedure entailing Italian as well as various other European banks.
BayWa r.e. will work as basic professional as well as programmer of the Tarquinia solar plant as well as be in charge of every phase of the project, from preparing to building and construction to procedure as well as maintenance.
Building and construction of the Tarquinia plant is expected to obtain underway in the coming months.
Once settled, the plant will certainly have an installed capacity of approximately 53MW.
Alessandra Toschi, Managing Director of BayWa r.e. Progetti, claimed: "We are especially pleased to have actually finalised this most recent contract with Nord/LB for the financing of a significant renewable energy project in Italy.
" Nord/LB is a financial institution with whom we have delighted in a relationship based on cooperation and shared regard throughout the years, as well as one that has assisted finance seven of our Italian projects, consisting of numerous onshore wind farms and a wide variety of assets in various other European regions.
" Italy has constantly stuck out at a European level for the development of energy from eco-friendly resources and has massive capacity to attract interest from an expanding variety of financiers.
" BayWa r.e. is striving to make its own payment in regards to emissions reduction and decarbonisation, as well as this most current arrangement will certainly play a critical function in that."