Norton Rose Fulbright advises Futuris Papia on the revamp financing of biofuel plant

Press release May 2019

Global law firm Norton Rose Fulbright has advised Futuris Papia S.r.l. (“Futuris Papia”) on the negotiation and signing of financial documentation and related guarantees for a medium-term loan provided by Banco BPM S.p.A. (“Banco BPM”) for revamping the technology of a 995 kW biofuel plant. The plant is located in Municipality of Pavia di Udine in Northern Italy. 

The firm also advised on the negotiation and signing of a supply agreement for the delivery of used vegetable oils to be used in the plant. 

Futuris Papia produces electricity from used vegetable oils. The company is a subsidiary of Blue Sphere Corporation, an international independent power producer active in the US, the Netherlands, the UK, Italy and Israel, which transforms agricultural, municipal and industrial waste into sustainable clean energy and other by-products.

Luigi Costa, Norton Rose Fulbright’s Milan-based of counsel who led the deal, commented:

“Italy is one of the leading nations in the biofuel sector, and government incentives are helping to fuel its growth. With measures aimed at encouraging investment in biofuel plants that operate in compliance with increasingly stringent environmental regulations, the Italian legislature in December 2018 of the Budget Decree has helped renew attention to the sector. We are delighted to have assisted Futuris Papia in making yet another investment and achieving its objective to revamp its biofuel plant.” 

Along with Luigi, the Norton Rose Fulbright team included senior associate Ginevra Biadico.

Norton Rose Fulbright’s Italian energy practice has recently advised on award-winning deals, including Solar Deal of the Year (Americas) and African Programme of the Year (Middle East and North Africa), recognised by Project Finance International. 

For further information please contact:

Felicia Kohn, Senior Business Development Manager, Norton Rose Fulbright Studio Legale
Tel: + 39 02 8635 941
felicia.kohn@nortonrosefulbright.com

Cristiana Santilli, Business Development Executive, Norton Rose Fulbright Studio Legale
Tel: + 39 02 8635 941
cristiana.santilli@nortonrosefulbright.com