Norton Rose advises on financing for 12.6 MW solar PV project in Veneto
22 March 2011
International legal practice Norton Rose Studio Legale has advised Solareolica Seconda S.r.l., a special purpose vehicle fully owned by EDF EN Italia S.p.A. ("EDF Italia"), which belongs to France’s EDF EN Group, on securing a Euro 45.7 million facility for the development of a 12.6 MW solar photovoltaic (PV) project in the Veneto Region. The lenders are Banca Nazionale del Lavoro S.p.A. (facility agent and security agent), BNP Paribas (Milan Branch), Crédit Agricole Corporate and Investment Bank (CACIB, Milan Branch) and Banco Bilbao Vizcaya Argentaria (Milan Branch). A portion of the financing provided by BNPP and CACIB was supported by the European Investment Bank. Lazard acted as financial adviser to EDF EN on the negotiation. EDF EN Italia develops, builds and operates industrial-scale solar PVplants, fully owned or in joint ventures with Italian partners. It is one of the major Italian players in the renewable energy sector.
The Norton Rose Studio Legale team was led by Rome-based partner Stefano Maria Zappalà, who was assisted by associates Armando Nania and Carolina de Vito Piscicelli and, for tax law aspects, associate Francesca Staffieri. Linklaters LLP provided legal advice to the banks with a team led by Tessa Lee (partner) and Alessandra Ortelli (associate).
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