BayWa r.e. and Nord/LB Norddeutsche Landesbank have successfully completed the financing of the Italian solar park Tarquinia in the region of Lazio in the amount of €55.8 million. This is the first time that structured financing has been implemented for a BayWa r.e. solar park in Italy.
After a careful selection process involving Italian and other European financial institutions, BayWa r.e. chose Nord/LB as a reliable partner. As general contractor, BayWa r.e will be responsible for all phases of the project, from planning and construction to maintenance and operational management of the Tarquinia solar park.
Construction scheduled for the coming months
Construction of the plant is scheduled to begin in the coming months. Once completed, the solar park with an installed capacity of approximately 53 MW will supply 35,000 households with green electricity.
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Heiko Ludwig, Global Head of Structured Finance, Nord/LB commented, "We are pleased to support BayWa r.e. as a long-standing and important client in another financing in Italy and to continue our already successful partnership in the wind sector now also in the solar sector."
Growing investors interest
Alessandra Toschi, Managing Director of BayWa r.e. Progetti S.r.l, added: "We are particularly pleased with this latest deal with Nord/LB, which enables the financing of another important large-scale renewable energy project. We value our long-standing relationship with Nord/LB, which has helped us finance seven Italian projects, including several onshore wind farms, as well as numerous plants in other European regions. Italy has consistently stood out at the European level in the development of renewable energy and has enormous potential that is attracting the interest of a growing number of investors." (hcn)
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