Whysol gets €319m green loan
Italian independent power producer Whysol Renewables has secured a €319m green financing facility from a consortium of domestic and international banks to develop four solar plants and two BESS totalling 328MW.
The financing was provided by Cassa Depsiti e Prestiti, BNP Paribas, Credit Agricole, ING Italia, Intesa Sanpaolo and UniCredit as joint original lenders, structuring mandated lead arrangers, global coordinators, hedging banks, green loan coordinators and bookrunners.
Intesa Sanpaolo was facility agent, issuing bank and depositary bank. Legance was legal adviser to Whysol, while Arcus was financial adviser.
BonelliErede was legal adviser to the banks, Fichtner Italia technical consultant and Marsh insurance adviser. Aurora Energy Research was market adviser, while the financial model audit was carried out by KPMG.
The facilities are expected to be constructed in Sardinia and Campania, while the solar plants will feature support from Italy’s FER-X and Energy Release 2.0 schemes. The BESS will also have access to Italy’s Electricity Storage Capacity Procurement Mechanism.
