Aer Soléir has completed financing for its 250MW four-hour Rondissone battery energy storage project in Piedmont, Italy.
The company said the scheme is the largest BESS under construction in Italy and sits in the Italy Nord power zone.
Centrus, the project’s debt and hedging advisor, structured the transaction with senior debt facilities covering up to 80% of capex on a 15-year amortisation profile.
The financing is provided by Bayern LB, Nord/LB, CIBC, Siemens Financial Services through Siemens Bank and ABN AMRO in what Aer Soléir described as a first-of-its-kind BESS financing in the Italian market.
Total project cost is approximately €180m and forms the first part of Aer Soléir’s planned €1.5bn capital deployment in Italy across 17 wind, solar and battery projects over the next five years.
The Rondissone project won a 15-year capacity market contract with the Italian government in the first quarter of 2025 and entered a seven-year fixed toll agreement with EGO Energy in the third quarter of 2025.
Manus O’Donnell, co-founder and chief financial officer of Aer Soléir, said: “We are delighted to reach this closing milestone in collaboration with our banking partners.
“This market leading project financing further strengthens Aer Soléir’s reputation as a best-in-class renewable energy IPP, and we are well positioned to continue expanding our footprint and supporting Europe’s accelerating energy transition.”