Watson Farley & Williams (“WFW”) advised RGreen Invest (RGreen Group) on the subscription of a private placement of secured notes issued by Italian company Renexia Pech S.p.A., which is owned by Renexia. Fund FPCI Infragreen III is among the subscribers.
Image: The wind park will be the first built in Italy with “market parity”.Photo courtesy of Free-Photos from Pixabay.
The non-convertible fixed rate bond, consisting of dematerialised bonds, will be used to finance the 36 MW Casalduni wind park, located near Benevento in the southern Italian region of Campania.
The bonds, valued at €12.5m, are listed on the Vienna Stock Exchange.
The wind park will be the first built in Italy with “market parity”, meaning it will not benefit from any feed-in tariffs provided by Gestore dei Servizi Energetici – GSE S.p.A. (“GSE”), the Italian government body promoting renewable energy and energy efficiency.
RGreen Invest, a French asset management company that is part of the RGreen Group formed in 2010 by Nicolas Rochon, is the first financing platform for green infrastructure, enabling institutional investors to direct their capital towards financing projects relating to energy transition. Through INFRAGREEN and Nouvelles Energies strategies, RGreen Invest offers tailor financing solutions for promoters of renewable energy infrastructure projects throughout Europe.
Renexia S.p.A., the renewables arm of Toto Group, specialises in the development, planning, construction and management of renewable power plants.
The multi-disciplinary WFW Italy team advising RGreen Invest was led by Italy Head Eugenio Tranchino, working closely with Finance Partner Mario D’Ovidio and supported by Trainees Daniele Sani and Ilaria Di Spirito. Partner Tiziana Manenti, supported by Associates Cristina Betti, Gianluca Di Stefano and Anthony Bellacci, and Trainee Antimo Nersita, advised on administrative and real estate law matters. Senior Associate Alfredo Guacci Esposito and Trainee Marco Mesina advised on the tax aspects of the deal.
Source: Company Press Release