Italian solar project gets to financial close

• Sistema Rinnovalbili raises EUR32m for 30MW PV project in Viterbo

Pioneer Point Partners' Italian renewables platform Sistema Rinnovalbili has actually shut the EUR32m project funding of a 30MW solar plant.

Building and also operation of the project, in Italy's Viterbo province, has been funded by ING Bank's Milan Branch.

The programmer has actually signed a 10-year power acquisition agreement to a "significant Italian industrial consumer", which has actually been finalised by Axpo Italia.

Sistema's chairman of the board, Antonio Urbano, claimed the offer would be adhered to by other projects of "over 50MW" in the autumn, calling it "another action in the development approach of the group, which has a pipe of over 1GW of projects in advanced growth, along with the 42MW already in operation".

Sistema was advised by ValeCap (financial), Gianni & Origoni (legal) as well as MBS Consulting (market and also PPA advisory).

ING Bank was encouraged by Ashurst (lawful) and also EOS Consulting (technical).