Danish renewables developer Obton has raised over €400m of debt for a portfolio of 144 solar PV projects in Italy.
Natixis, UniCredit and fund manager Generali Global have provided the debt package to Obton’s subsidiary WT II Senior, which in turn holds solar plants totalling 116MW across 80 special purpose vehicles.
Advertisement
The debt will be used to refinance existing loans at the vehicle level as well fund revamping work on the majority of the plants.
Obton has been advised on the process by SURE – Sustainable Revolution, while the banks have been advised by law firms DLA Piper and Orrick.