Stefano Maria Zappalà


Stefano Zappala


T:+39 06 684109 1

F:+39 06 684109 44

Stefano Maria Zappalà is a projects lawyer based in Rome. He focuses on project finance and PPP transactions and has acted for both lenders and borrowers.

Stefano has extensive experience of transactions in the infrastructure, energy and natural resources and real estate sectors, including urban regeneration projects. He has a background in mergers and acquisitions, having acted for domestic and international companies.

Stefano read summa cum laude at the Università di Roma “La Sapienza” in 1987 and has been registered with the Bar of Rome since 1990. He attended several academic specialisation courses, both in Italy and abroad and he worked for almost two years in the United States (New York City).

He is a native Italian speaker and he also fluent in English.

Zappalà, Stefano MariaZappalà, Stefano Maria
[+Open all]
  • Admissions
    Avvocato, qualified in Italy
  • Selected client work
    • advised the lenders of Centropadane S.p.A., tha Piacenza - Brescia highway concessionaire, for the financing of infrastructural work to realise the planned investments in the highway.
    • advised Solareolica Quarta S.r.l., a special purpose vehicle owned by EDF Italia S.p.A. (EDF Italia), which belongs to France’s EDF Group, on securing a Euro 54.6 million facility for the development of a 13.5 MW solar photovoltaic (PV) project in the Sicily Region.
    • advised Solareolica Seconda S.r.l., a special purpose vehicle fully owned by EDF EN Italia S.p.A., which belongs to France’s EDF EN Group, on securing a Euro 45.7 million facility for the development of a 12.6 MW solar photovoltaic (PV) project in the Veneto Region.
    • advised the Mandated Lead Arrangers, Meliorbanca and Banca Popolare di Milano, on a €45.5 million financing in favour of a Aveleos, a special purpose vehicle set up by a joint venture company incorporated between Zurich-based Avelar Energy Group and Enovos Luxembourg S.A., for the development of a 15 MW photovoltaic portfolio in Puglia and Basilicata.
    • advised the banks in relation to a €46.5 million financing to an spv set up by Origis, a leading developer of renewable energy projects, which also provides investment products for private and institutional investors such as closed-end funds, for the construction of an 11MW solar photovolatic portfolio, comprised of 3 solar parks located in the Campania and Sicily regions of Italy.
    • advised the banks on in relation to a €31 million financing to AES Solar Energy Ltd (AES Solar), a joint venture between the AES Corporation (NYSE: AES) and Riverstone Holdings LLC, for the construction of the 8MW Torchiarolo solar photovoltaic (PV) facility project, located in the Puglia region of Italy.
    • advised on a joint venture between Enovos Luxembourg S.A. and Avelar Energy Ltd to develop, operate and bring to the market photovoltaic plants – in particular in Italy and France – with a total capacity of up to 95 MWp; further, advised Enovos on the acquisition of 11 photovoltaic parks from Avelar, all located in the Puglia Region.
    • advised BNP Paribas/Banca Nazionale del Lavoro (BNL) on the funding of a public private partnership for the construction of a pre-treatment waste facility, inclusive of a compost generation line. The facility is located in the municipality of Aielli (AQ), in Central Italy.
    • advised the Mandated lead Arranger for the realisation of the new spine unit at the Turin Hospital.
  • Rankings and recognitions
    • Chambers Europe 2014 - Banking and finance
      “Stefano Maria Zappalà is highlighted for his long-standing project finance expertise. He recently advised Cassa Depositi e Prestiti on a EUR39.8 million loan agreement with Acsm-Agam Reti Gas Acqua for the development of gas distribution networks”.
    • Legal 500 EMEA 2014 – Banking and finance
      Stefano Zappalà is recommended.
    • Chambers Global 2014
      “Stefano Maria Zappalà is highlighted for his long-standing project finance expertise.”
    • Stefano Maria Zappalà received the 2013 ILICA (Italian Language InterCultural Alliance) award for excellence in business and life.
    • Chambers Europe 2013 - Banking & Finance: Projects
      “Stefano Maria Zappalà focuses on administrative law and projects in the energy and infrastructure sectors. He also often advises government entities.”

    • Legal 500 EMEA 2013 - Banking
      Stefano Zappalà is ‘recommended’ ...  Zappalà ‘takes clear positions on complex issues’.
    • Chambers Global and Chambers Europe 2012 - Banking and finance
      “Rome-based Stefano Maria Zappalà is valued for ‘putting himself in the client's shoes’.”
    • Legal 500 EMEA 2012 - Banking and finance
      “Stefano Maria Zappalà advises on project finance.”
    • Chambers Europe 2011 - Banking and finance
      “Stefano Maria Zappalà attracts praise for his project finance expertise.”
    • Chambers Global 2011 - Banking and finance
      “Stefano Maria Zappalà is … identified by clients as ‘a real stand-out’ in the field of project finance.”
    • Legal 500 EMEA 2009 - Banking and finance
      “Project finance expert Stefano Zappalà advised on a €135m highway financing for lead arranger Unicredit Corporate Banking.”
    • IFLR 2008 - Banking and finance
      “Stefano Zappalà joined the firm in August 2006, boosting the firm’s project finance capabilities. Described as “a very, very good lawyer” by one peer, Zappalà is advising the sponsors of a 93MW wind farm in Calabria.”
  • Memberships and activities
    • Stefano is a member of the organising committee of the Conference of Energy Law, sponsored by the Gestore Servizi Energetici S.p.A. (the Italian State-owned entity managing the incentives allowed to renewable energy sources) and the University of Rome Tre. He is also a member of the Large Firms Committee at the Bar of Rome.
    • Stefano gives lectures, holds seminars and speaks at conferences and post graduate courses, such as those held at Università di Tor Vergata.
    • Stefano is co-author of a book on PPP, La Partnership Pubblico-Privato, Il Sole 24Ore, Collana Edilizia e Territorio, ed. 2006, and is a co-author of an article on the Italian project finance industry, published by the Bari Chamber of Commerce review, following his speech at the Fiera del Levante in 2004.