Nctm Studio Legale advised Banca Popolare di Milano (BPM) in the project finance loan to Energie de la Vallèe, as Special Purpose Vehicle (SPV) belonging to the Genoese group Energetica, for the realisation, under the Private-Public-Partnership (PPP) regime, of a district heating system in the Municipality of Valtournenche – Breuil Cervinia (Aosta).