International law firm Watson Farley & Williams (“WFW“) advised Banca Popolare di Milano (“BPM”), Italy’s second largest co-operative bank, on two project financings, with an aggregate value of €6m, of two biogas plants owned by Fri-El Group, the leading Italian electrical energy producer from renewable sources.

The two plants will provide electrical energy to municipalities of Crevalcore (Emilia-Romagna, NE Italy) and Villacidro (Sardinia) where they are located.

The WFW Italy team advising BPM was led by finance partner Pierpaolo Mastromarini, assisted by associates Daniele Pompei, as project manager, and Paolo Gallarà on the project finance aspects of the transaction. Senior associate Elena Macchi advised on all regulatory and administrative matters.

Pierpaolo commented: “We are delighted to have successfully advised our client on a transaction that confirms that, notwithstanding the complexities of the sector, biogas remains attractive to investors who recognise it as an important strategic asset”.