Milan; Global legal practice Norton Rose Fulbright has advised UniCredit and Banca IMI on a limited recourse financing to Calabria Solar Srl to re-finance the project costs of a 24 MW solar photovoltaic project located in the municipality of San Floro, Province of Catanzaro. The sponsor of the project is ForVEI, which has acquired the operating project from Talesun through the purchase of the entire share capital of Calabria Solar.

ForVEI is a joint venture of various institutional investors, including VEI Capital, Foresight Solar VCT and CDC Infrastructure, a fund which specialises in investments in Italy’s renewable energy sector.

The Norton Rose Fulbright team advising the banks was led by head of banking and finance in Italy, Arturo Sferruzza, who was assisted by associates Marcello Ciampi, Luigi Costa, Chiara Toccagni and trainee Marina Adessi.

As regards the acquisition of the project, the law firm Osborne Clarke advised the buyer while an internal legal team assisted the seller.

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