Platina Energy Partners has secured €50m non-recourse funding to refinance its 20MW solar portfolio from the Milan branch of ING Bank.
The portfolio consists of four operational plants built in 2011 in southern Italy.
Platina said the refinancing “reduces the cost of funding with respect to the old debt raised between 2011/2012, optimizes the financing structure of the portfolio, increases marginally the gearing and improves materially the cash flows arising from the underlying assets”.
It is the second refinancing for the company in less than a month and is part of a restructuring process that the company is implementing for its renewable portfolio across Europe.
Gianni Origoni Grippo & Partners advised the borrowers, while BonelliErede, Fichtner and BDO advised the lenders.
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