Norton Rose Fulbright has advised Eolsiponto S.r.l. on the financing for the development of a 17.5MW wind farm located in Manfredionia, Puglia Region of Italy. This project has been one of the few financing transactions in the wind sector in the last 12 months to have reached financial close under the terms of Italy’s revised renewable energy incentive tariff scheme. Cubico Sustainable Investment, one of the world’s leading investment companies in the renewable energy and water sectors, were sponsors of the project. Cubico’s shareholders are Ontario Teachers, PSP and Banco Santander.

The financing amounted to over €21m and was provided by two Italian banks, UBI Banca and Banca Popolare Emilia Romagna.

The Norton Rose Fulbright team was led by head of the Italian banking team, Arturo Sferruzza, assisted by senior associate Elisabetta Negrini, associate Edoardo Pecorario and trainee Lisa Rancitelli. The team was based in the Milan office of Norton Rose Fulbright.