Ashurst advised a syndicate of banks comprising Banco Bilbao Vizcaya Argentaria S.A., Banco Santander S.A., Credito Valtellinese, MPS Capital Services Banca per le Imprese S.p.A., Natixis S.A. and UBI Banca S.p.A. as lenders and mandated lead arrangers in relation to a €66.72 million facilities agreement (comprising a €62.72 million term loan and a €4 million revolving credit facility) entered into by the 9REN Group, a leading European renewable energy company owned by First Reserve.

Natixis S.A. – Milan Branch acted as structuring and coordinating bank.

The financing will be used for the refinancing of a portfolio of five solar PV plants in the Lazio and Puglia regions in Italy, having a combined nominal capacity of 21.7 MW.

The Ashurst team was led by energy partner Carloandrea Meacci and included counsel Simone Egidi and Elena Giuffrè and associates Pamela Infantino, Andrea Semmola and Edoardo Bononi, all based in Milan.