SR Investimenti announces the successful refinancing of a 13.7MWp solar PV portfolio

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The portfolio consists of 16 plants owned by12 SPVsof which 10 are already fully and directly owned by SR Investimenti2 (the “Sponsor”) and 2are in the final stage of acquisition.

The Portfolio benefits from different Feed in Tariff regimes ranging from 2ndto 4thConto Energia with most of the capacity (11 MWp) benefitting of the 4thConto Energia.

Geographically, the assets are distributed across 7 different Italian regions with Lombardy comprising almost half (46%)of the total capacity. The refinancing included the anticipated repayment of two debt facilities in place with Creval and the redemption of 1 leasing previously in place with MPS and 10 leasing previously in place with Intesa Sanpaolo. SR Investimenti (“SR”), a company led by Antonio Urbano, was launched to consolidate the fragmented secondary market, while also expanding its operations in the nascent market parity sector.

SR is backed by funds managed by Pioneer Point Partners LLP, a long-standing, experienced and independent infrastructure investment firm. Antonio Urbano, CEO of SR commented: “This transaction allows SR Investimenti to optimize the financial structure of its assets providing resources to boost our consolidation strategy that targets100MWpof operating solar PV assets, while codeveloping about 300 MW of new capacity of utility-scale photovoltaic plants. The company strategy will benefit of the new EU Green Deals Guidelines, which will support an important wave of new investments in Renewables”.

Prothea acted as exclusive financial advisor to SR, with a team led by Managing Director Mr. David Armanini and including Managing Associate Mr. Tommaso Angela and Associate Mr. Pietro Torrente, while GOP acted as legal advisor, with a team led by Maria Panettaand Moroni & Partners as technical advisor.

The Lender was supported by NCTM Studio Legaleas legal advisor with a team led by Eugenio Siragusaand by FichtnerItalia as technical advisor with a team led by Federica Pellegrini.