This financing follows Noy Fund’s recent acquisition of a majority stake in the Olmedilla plant, on which WFW also advised. The acquisition was Noy Fund’s first investment in Spain.
The photovoltaic plant is located in Cadiz, Spain, and will be operational in 2021. It is Everwood’s second merchant plant, with the financing representing a leverage of 62% on the project.
The targets were two SPVs that own authorisations for the construction and installation of eight rooftop photovoltaic plants located in the Lombardy, Veneto, Lazio and Marche regions in Italy.
Intesol Energie owns and operates the 1 MW Intesol photovoltaic plant in Ravenna, Emilia Romagna, Italy and benefits from feed-in tariffs under IV Conto Energia.
The 240 MW portfolio includes eight PV projects under development in the Dutch provinces of Overijssel and Limburg and five PV projects under development in Italy’s Apulia region.
The Basilicata TAR annulled the Basilicata Region’s order rejecting an application for a Single Authorisation for the construction of a 20 MW photovoltaic plant in Ferrandina.
The portfolio, comprising five Spanish plants currently under construction with a 50 MW nominal capacity, is located in Spain’s Albacete region.
The portfolio comprises 73 plants which produce over 355,000 MWh annually, representing enough clean electricity to supply more than 115,000 households.
WFW carried out the due diligence and the drafting and negotiation of the share purchase agreement executed within the framework of the deal.
The portfolio comprise 11 wind farms and two photovoltaic plants located in France with a total installed capacity of 165 MW, all owned by French IPP Valorem.