Global law firm Norton Rose Fulbright has advised BNP Paribas, Crédit Agricole CIB and Société Générale on a €101 million (US$123 million) facility to NovEnergia to refinance a portfolio of solar photovoltaic assets in Italy.
NovEnergia is part of the French group Total Eren. It owns a diversified portfolio of renewable energy assets in various European countries. In Italy, NovEnergia has an important solar photovoltaic portfolio of projects spread from the north of Italy (rooftop mounted in industrial buildings) to the southern region of Puglia. It also owns and operates, and is currently developing and making new investments in, wind projects in Italy.
The Norton Rose Fulbright team advising on this transaction was co-led by partner Arturo Sferruzza, head of the firm’s banking and finance and energy practices in Italy and counsel Elisabetta Negrini. The team also included counsel Ginevra Biadico, who advised on matters of administrative law.
Arturo Sferruzza commented: “We are delighted to have been part of the large group of legal, financial and business advisors that worked collaboratively with the lenders and the borrowers to reach this successful conclusion. Opportunities in Italy’s renewable sector continue to attract the attention of project sponsors, investors and banks, and their interest is likely to grow.”