Norton Rose Fulbright advises on refinancing of the Vento di Vino wind farm in Sicily
Italy | Press release - Business | October 2020
Global law firm Norton Rose Fulbright has advised Intesa Sanpaolo S.p.A. (Intesa) as mandated lead arranger, lender, agent, depositary bank, on the €22 million no recourse refinancing of Vento di Vino wind farm.
The wind farm, owned by Libeccio S.r.l. and controlled by Fabbrica Energie Rinnovabili Alternative S.r.l. and Byom, is located in the Municipality of Mazara del Vallo (Trapani). It has been operational since 2011 and consists of a total of seven 3.4 MW REpower wind turbines, for a total installed capacity of 23.8 MW. Among the firsts of the Vento di Vino wind farm is that of having been the park with the largest and most powerful turbines installed in Italy at the time it came into operation.
Norton Rose Fulbright advised Intesa for all aspects of legal due diligence on the project and project finance related to the negotiation, drafting and finalization of all finance documents and the contextual drawdown of the loan.
The Milan team was led by partner Luigi Costa and included counsel Ginevra Biadico and associate Federica Desiderato.
Luigi Costa commented: “Italy continues to be a key country for renewable energy and we expect a trend for green finance to grow as a result of the current low interest rates scenario and strong technical skills and appetite of Italian giant banks like Intesa for renewables and energy transition”.