Orrick assisted Natixis S.A.’s Milan branch in structuring and negotiating a bridge loan to fund the construction of a solar photovoltaic plant with an aggregate power capacity of up to 103 MW, making it the biggest solar plant in Italy. The financial structure of the transaction consists of a €44.5 million bridge loan and has the main features of a project finance transaction in terms of risk allocations. This is the first financing of a plant which, for the most part, will not be supported by state incentives. Among other tasks, Orrick was heavily involved in the drafting and structuring of all relevant project contracts.
Our team was led by Carlo Montella, and included Raul Ricozzi, Francesca Isgro, Pina Lombardi, Giovanni Leoni, Celeste Mellone, Laura Galbiati, Federico Perego, Simonetta Formentini, Camillo Melotti Caccia, Valeria Camilli, Edoardo Mencacci, Milvio Delfini and Elena Brunetta.