Global legal practice Norton Rose Fulbright has advised two Italian banks, Banca Popolare dell’Emilia Romagna Società Cooperativa and Credito Valtellinese Società Cooperativa, in relation to a €29 million limited recourse financing to Delsis S.r.l. for the construction, operation and maintenance of a 26 MW wind park located in the Puglia Region of Southern Italy.

The wind park will be operational by 30 June 2016 and will benefit from the Italian renewable energy incentive regime. The wind farm will generate more than 57 GWh of energy per year, equivalent to the annual consumption of approximately 20,000 households, reducing emission of carbon dioxide by more than 52,000 tons annually.

The Norton Rose Fulbright team was led by Arturo Sferruzza, partner and head of the banking and finance and energy teams in Italy, and included: associates Luigi Costa (finance, corporate and construction) and Chiara Toccagni (administrative law), and trainee Lisa Rancitelli.