SR Investimenti consolidates its business with the acquisition and refinancing of a 10MWp solar PV portfolio.
Pioneer Point Partners-backed SR Investimenti (“SR”) has acquired a 10 MW Italian solar portfolio from InfraRed Capital Partners’ European Solar Opportunity II Fund and has refinanced the assets with a new debt facility.
The portfolio comprises 10 ground-mounted PV plants, each of around 1 MW, located in the Puglia region in the South of Italy.
All the plants have been operational since 2010 and are eligible for subsidies under the Il Conto Energia incentive scheme.
SR, in parallel to the acquisition, has successfully refinanced the whole portfolio with debt provided by Banco BPM and MPS Capital Services.
The assets, which are held across three different SPVs, were originally partially financed through a single senior facility provided by UniCredit.
Antonio Urbano, CEO of SR commented: “This acquisition is an important milestone in line with SR Investimenti consolidation strategy to reach 100MW of solar operating PV plants, while codeveloping about 300 MW of new capacity of utility scale photovoltaic plants. The company strategy will benefit of the new EU Green Deals Guidelines, which will support an important wave of new investments in Renewables”.