Deutsche Bank has led a consortium of four
German-based banks to provide a long-term debt financing facility
for a photovoltaic plant in Italy.
The €118m facility has been provided by
Deutsche Bank in conjunction with BayernLB, Helaba Landesbank
Hessen-Thüringen and KfW IPEX-Bank and is split €114m in long-term
debt finance over 17 years and a €4m VAT facility over five
years.
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Deutsche Bank provided €83m in bridge
financing to fund construction of the 120 hectare Serenissima plant
in the Veneto region of North-East Italy in July 2011.
After construction completion and grid
connection in August 2011 the project was bought by a vehicle
controlled by the BNP Paribas Clean Energy Fund in December
2011.
With a capacity of 48 MW the project is one of
the largest single PV plants in Italy and will generate income
through the Conto Energia 3 and Conto Energia 4 feed-in
tariffs.
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By GlobalData
