London,UK Construction is under way and connection is planned before the year-end to qualify for Italy’s current 20-year feed-in tariff. juwi Energie Rinnovabili, a subsidiary of juwi Holdings, and the thin-film module manufacturer First Solar are also participating in the project.
Debt financing for the wind farm came from a division of the Intesa Sanpaolo Group and the transaction involved Foresight’s Rome and London offices.
“This transaction continues to demonstrate banks’ appetite for lending to solar projects sponsored by equity providers with a relevant track record,” said Jamie Richards, who manages Foresight’s solar funds.
“Our PV specialist local teams in Rome and Madrid are now also applying their experience to the UK PV market where Foresight is currently finalising project funding packages.”
Foresight’s European Solar Fund invests in Italy and Spain, where it claims to have completed transactions for more than 30MW in operating and construction stage assets.