- The line approved by Generalfinance will be used by TerniEnergia Progetti to increase orders in the EPC sector, optimise the order book and support the leasing of the photovoltaic business unit to the parent company
algoWatt S.p.A., GreenTech Solutions Company listed on the Euronext Milan market of Borsa Italiana, announces that the subsidiary TerniEnergia Progetti Srl has received the resolution for the activation of a factoring contract, for a maximum amount of Euro 2.5 million, from Generalfinance S.p.A., in order to provide adequate financial support to the Company. Generalfinance, a supervised financial intermediary, listed on Euronext STAR Milan and a leading Italian provider of tailor-made solutions for the financing of working capital, has joined TerniEnergia Progetti as a financial partner, providing the company with new factoring solutions, in order to allow the acquisition of large orders in the photovoltaic sector, so as to significantly increase the subsidiary’s turnover volumes, optimize the financial cycle related to the orders in the order book, as well as to make the commitments to the parent company algowatt S.p.A. for the leasing of the EPC and photovoltaic O&M business unit, in the context of the restructuring scenario that has begun.
