Centrobanca (Ubi Banca Group) and MPS Capital Services (Montepaschi Group) are the mandated lead arrangers (MLA) of the operation. The total funded sum is 24 million euros. MPS Capital Services shall be bank agent as well.
The financing plan regards the portfolio of the joint venture T.E.R.N.I. SolarEnergy of seven photovoltaic power installations in Umbria and Puglia having installed power of 6 MW each.
The funded photovoltaic installations are currently and completely constructed, connected up to the power transmission grid and running.
Terni, 24th July 2009 – TerniEnergia, among the main system integrators in Italy in the photovoltaic sector and the company controlled by EDF Energies Nouvelles Group, which is dedicated to the development of renewable energy in our country, signed through T.E.R.N.I. SolarEnergy joint venture, an agreement with Centrobanca, Corporate and Investment Bank of the Ubi Banca Group and MPS Capital Services Banca per le Imprese and Corporate Bank of Montepaschi Group, acting as mandated lead arrangers for the in project financing directed at the construction, management and maintenance of a portfolio for seven photovoltaic power installations. These installations are currently connected up to the power transmission grid and running. The total funded sum is 24 million euro directed in particular to refinancing for construction and support in the management stage.
These installations having 6 MW each are located in Umbria (installations positioned on shelters) and in Puglia (fixed installations on the ground) and are supplied turnkey and run by TerniEnergia.
T.E.R.N.I. SolarEnergy is one of the major Italian producers of photovoltaic energy generated from renewable sources. TerniEnergia mainly strives to consolidate the production of energy from solar sources through joint venture companies mutually controlled by EDF EN Italia. Recently, a third joint venture (apart from T.E.R.N.I. SolarEnergy and Energia Alternativa) was established between the two companies and named Energie Arl. The start of the third mutual venture further consolidates the alliance between the companies that have been partners for some time.
Centrobanca, the Corporate and Investment Bank of the UBI Group, is active in the sector with teams dedicated to various segments of the market including solutions that are adequate for the dimensions and types of installations. The bank was established in the first part of the year in which the resolutions for financing of renewable energy increased by 35% with respect to the whole of 2008, leading to an expenditure of approx. 700 million euro.
MPS Capital Services Banca per le Imprese that in the scope of the T.E.R.N.I. SolarEnergy operation has the role of MLA and acts as the consortium’s bank agent as well, is the Montepaschi Group company specialized in providing banking and consultancy services to corporate and institutional clientele as well as agencies and Public Administration. Through its own organization specialized in project financing, it provides financial support to electrical power production projects especially deriving from renewable sources as well as to public-private partnership operations for the achievement of public works according to the project financing outline or rather to the general contractor.
