26 July 2010 - 9REN Group, the European renewable energy company owned by global energy investor First Reserve Corporation, completed an EUR80m ($103m) financing deal for 22 MWe solar PV projects in Italy with a syndicate of three banks.  

 

The Unicredit Group and Natixis acted as Initial Mandated Lead Arrangers for the deal with Mediocreval joining as Lender. Unicredit is the Agent of the transaction. Proceeds will be used to finance a portfolio of five photovoltaic parks, currently under construction in Italy, with a total peak capacity of 22 MW.

 

The parks are located in Apulia region, in the Taranto province (for a total capacity of 14 MW) and in Latium region, in the Rome and Latina provinces (for a total capacity of 8 MW). 

 

Project completion is expected by year end and together will bring 9REN’s installed solar capacity to a total of 45 MW. 9REN’s currently has over 300 MW of solar projects under development in Italy, including 40 MW in construction.