The portfolio, Elpida, has solar plants located in the Lazio and Sicily regions.

The company said it has closed financing facility back in May with Dexia Crediop, DNB Bank and ING Bank, who acted as the three lead arrangers.

The loan proceeds, structured as a multi-borrower transaction, were used to refinance the equity raised during construction of the Elpida project.

Six of the power plants totaling 21MW started commercial operation in the second half of 2011, while the remaining four PV installations completed construction during the first two months of 2012.

AES Solar, a joint venture between The AES Corporation and Riverstone Holdings, currently operates 232 MW in Bulgaria, France, Greece, India, Italy and Spain, with 24MW projects still underway in the US.