SR Investimenti, advised by Prothea, completed the acquisition and refinancing of a 12MWp solar PV portfolio with new additional Hold.Co. financing facilities provided by with Intesa Sanpaolo for a total amount equal to c. 31 EUR million.

The portfolio consists of 12 plants owned by 6 SPVs acquired by the sub-holding SR Investimenti 2 and benefits from Feed in Tariff regimes from 2nd Conto Energia. Geographically, the assets are located in southern and central Italy (Puglia and Umbria).

The refinancing included the anticipated repayment of two debt facilities previously in place with Investec and Unicredit while the new debt raised by SR Investimenti 2includes an additional Term facility of c. 27.7 EUR million, an additional DSR facility of c. 1.7 EUR million and a new VAT facility of ca. 1.8 EUR million.

Antonio Urbano, CEO of SR: “We are strongly committed both in the acquisition of operational assets and in refinancing activities as well as in the revamping and optimization of assets already in our portfolio with the most advanced technical solutions. We have also obtained the authorizations for the first large projects in market parity (about 100 MW in total) and we are in advanced stage to start the construction phase while codeveloping a pipeline in excess of 500 MWp of new capacity of utility scale photovoltaic plants.”

Prothea acted as exclusive financial advisor to SR while GOP acted as legal advisor and Kiwa Moroni & Partners as technical advisor.

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SR Investimenti acquired a 10MWp solar PV portfolio from a fund managed by InfraRed Capital Partners. SR Investimenti also completed a refinancing of the assets.

The portfolio consists of 10 ground-mounted solar PV plants, each of about 1MWp capacity, located in Apulia region. All plants have been operational since 2010 and benefit from the “II Conto Energia” GSE incentive scheme. The plants, owned by three different SPVs, were partially financed through a single senior facility provided by Unicredit.

In conjunction to the acquisition, SR reached an agreement with Banco BPM S.p.A. (“BBPM”) and MPS Capital Services – Banca per le Imprese S.p.A. (“MPS CS”) for the refinancing of the whole portfolio.

Antonio Urbano, CEO of SR added: “This acquisition is an important milestone in line with SR Investimenti consolidation strategy to reach 100MW of solar operating PV plants, while codeveloping about 300 MW of new capacity of utility scale photovoltaic plants. The company strategy will benefit of the new EU Green Deals Guidelines, which will support an important wave of new investments in Renewables”.

SR Investimenti was advised by Prothea while InfraRed Capital Partners was advised by L&B Partners. SR Investimenti is backed by funds managed by Pioneer Point Partners LLP, the leading European infrastructure investor in the energy sector.

SR Investimenti has completed the acquisition of nine solar PV plants from Building Energy, a global company that operates in the renewable energy industry; the portfolio includes 7.5 MWp PV rooftop plants – located in Lombardy, Marche and Emilia Romagna regions – that benefit from the GSE incentive scheme. The transaction was completed in less than 6 months from inception and represents an important addition to the growing asset portfolio of SR Investimenti. With this operation, the company continues on its ambitious path toward the target of 100MW of owned existing plants, while codeveloping 300MW of new capacity.

 Building Energy was supported by Prothea as exclusive financial advisor and Legance as legal advisor, while for SR Investimenti GOP acted as legal advisor, E&Y as financial and tax advisor, and Moroni&Partners as technical advisor. Wide Group supported SR Investimenti on matters concerning insurance.

Renewable generation company Sistema Rinnovabili has completed the acquisition of 6MW of ground-mounted solar plant located in the Puglia and Lombardy regions. The company is also engaging on a number of follow-on acquisitions throughout Italy. Advisors Gianni Origoni Grippo Cappelli & Partners, Moroni & Partners and Ernst & Young advised the company on the transactions.

Sistema RInnovabili is consolidating fragmented solar plant in Italy as well as developing, constructing and operating large scale ground-mounted PV plant in market parity. The Company is owned by major international institutional investors.

Renewable generation company Sistema Rinnovabili has expanded its team with two new hires. Marco Sartor will be in charge of M&A and joins the company after a long career in the energy domain including positions in EPC solar companies (Enerqos and BP Solar), in advisory activities for a renewable energy financial advisor (Prothea) and M&A head in an Italian IPP. Mr Riccardo Glorioso also joined the team as Investment Analysts after several years of experience in solar energy and anaerobic digestion in Italy and the UK.

Renewable generation company Sistema Rinnovabili has appointed Antonio Urbano as Chief Executive. Mr Urbano is a veteran of the energy sector with a variety of previous roles including senior positions in Eni, Edison, founder and CEO of Dynameeting (currently Repower Vendite Italia), CFO of Repower Italia. Mr Urbano is also Board Member of renewable company ICQ Holding,  founder and partner of Puraction and Carica Positiva

Sistema RInnovabili is consolidating fragmented solar plant in Italy as well as developing, constructing and operating large scale ground-mounted PV plant in market parity. Mr Urbano will oversee all operations of the company. The Company is owned by major international institutional investors.