Ashurst has advised the lenders, Banca IMI S.p.A., BNP Paribas, Cassa Depositi e Prestiti S.p.A., Crédit Agricole Corporate & Investment Bank, ING Bank N.V. and UniCredit S.p.A., on the €1 billion debt refinancing of EF Solare Italia.

The refinancing, which is the largest ever carried out in the photovoltaics sector in Italy, enables EF Solare Italia, acting through EF Kosmos, a wholly owned subsidiary that controls all the companies owning the plants involved in the transaction, to optimise the terms and conditions of the credit lines, to rationalise its corporate structure and to support the future growth of the Group.

EF Solare Italia, a joint venture of Enel Green Power and F2i, is the leading photovoltaic operator in Italy with 123 photovoltaic plants in its portfolio with a combined capacity of almost 400MW across 14 regions in Italy.

The Ashurst team based in Milan was led by Carloandrea Meacci, assisted by counsels Umberto Antonelli, Simone Egidi, Elena Giuffrè, Fabio Balza, Annamaria Pinzuti and senior associate Federica Periale.