Ashurst advises on $125.55m Italy wind farm project financing

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Ashurst advised the consortium of banks which provided funding for a 60 MW wind farm in Melfi, Italy.
 
The Ashurst team was led by Milan-based energy partner Carloandrea Meacci, assisted by associates Federica Periale and Andrea Semmola.
 
Ashurst advised ING Bank N.V., UniCredit S.p.A. and Siemens Bank GmbH in connection with the structuring and arranging up to a maximum of €87.9 million (about $125.55 million) senior debt facilities for the development, construction and operation of a 60 MW onshore wind farm located located 10km North-East of Melfi village.
 
The project is being developed by a subsidiary controlled by Glennmont, a major infrastructure fund.  Glennmont in July acquired a total of 245 MW capacity in wind farms in five sites in Puglia and Sicily, according to Italian site Be Beez. The wind farms were all sold by Spanish firm Iberdrola.
 
Construction began in September 2015 by Siemens spa and Pizzulo Construction Ltd. The wind farm features 20 turbines supplied by Siemens Wind Power. The facility is expected to generate 60 MW.
 
Glennmont said Progetto Energia srl provided regulatory roles and Milan-based Montana S.pA provided the construction management services for Melfi wind farm. Orrick also advised Glennmont.
 

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