I P F A advised SAG Solarstorm on the project financing deal of the 48MW Serenissima solar plant in Rovigo, Italy. The 118 million Euros deal closed with Glennmont Partners (formerly known as BNP Paribas Clean Energy Partners).

After the settlement of payables and the repayment of the project bridging loan granted by Deutsche Bank n the amount of around EUR 80 million, SAG Solarstrom secured liquid funds of more than EUR 50 million.

Covering a surface area of around 120 hectares, Serenissima is the second largest solar plant in Italy to be financed under a single project financing. The project financing was advanced by a banking syndicate consisting of Deutsche Bank AG, the Bayerische Landesbank, Landesbank, HessenThüringen, Girozentrale and KfW IPEX-Bank.

The I P F A team included CEO Gordon Batman, Senior Project Finance Business Partner Yiorgos Andrianopoulos, associate Damien Hughes, junior associates Maria Pantos and Elena de Gregori. Partner Aniza Delializi advised on tax aspects, with partner Homer Falsiani and senior associate Manolo Pambos assisting with antitrust issues.