Located in Italy’s Lazio, Puglia and Sicily regions, all the four plants connected to this financing are expected to reach commercial operation before the end of the third quarter of 2011, thus qualifying for a 20-year regulated feed-in tariff under the Conto Energia renewable energy tariff structure.
The EUR68m financing covers up to 81% of estimated project costs with a final maturity date of 18 years post construction.
Dexia Crediop, Societe Generale, DnB NOR and ING participated in this financing as mandated lead arrangers.
AES Solar, a joint venture between AES Corporation and private equity firm Riverstone Holdings, was formed to develop, own and operate utility-scale solar power projects.
The company currently has a global operating portfolio of 127MW in Italy, Spain, Greece, Bulgaria and France, with substantial development activity in other countries.
