pv

First Reserve closes €276 million financing For Italian photovoltaic plant

First Reserve Corp., the Beltsville, Md. (US)-based private equity firm, has closed a €276 million ($386 million) project financing agreement for the Rovigo solar plant in northeast Italy.

The move comes two months after the energy industry investor announced it had purchased the 70 MW photovoltaic power plant from SunEdison, a division of MEMC Electronic Materials, Inc.

When completed later this year, the project is expected to be the largest operating solar power plant in Europe.

"SunEdison is a leader in executing large scale projects like Rovigo and we are proud to add this flagship project to our energy infrastructure portfolio,” said Mark Florian, Managing Director of First Reserve Energy Infrastructure, after the acquisition was announced.

“Rovigo will serve as a worldwide reference for its scale, representing many unique skills embedded in our partnership with SunEdison, including expertise in coordination of complex solar projects, technical management and financial execution," he said.

Carlos Domenech, President of SunEdison, said the transaction, “demonstrates SunEdison’s capabilities in developing large-scale solar projects, working with investors to design and implement project finance structures, supporting government agencies in obtaining renewable energy goals and creating green energy jobs”.

The lenders participating with First Reserve on the financing agreement include Banco Santander, Unicredit Corporate Banking, Credit Agricole, Dexia Crediop, Natixis, and Societe Generale.

Italy's solar sector is among the fastest growing in the world, with installations expected to easily top the 1,144 MW that were installed last year.

For additional information:

First Reserve Corp

____________________________________________________________________________________________________

***Follow Renewable Energy Magazine on Twitter***

Baterías con premio en la gran feria europea del almacenamiento de energía
El jurado de la feria ees (la gran feria europea de las baterías y los sistemas acumuladores de energía) ya ha seleccionado los productos y soluciones innovadoras que aspiran, como finalistas, al gran premio ees 2021. Independientemente de cuál o cuáles sean las candidaturas ganadoras, la sola inclusión en este exquisito grupo VIP constituye todo un éxito para las empresas. A continuación, los diez finalistas 2021 de los ees Award (ees es una de las cuatro ferias que integran el gran evento anual europeo del sector de la energía, The smarter E).