Octopus Investments has completed the refinancing of five solar projects totalling 64MW at Montalto di Castro in the Lazio region of Italy.
The €23m financing package has been provided by MPS Capital Services and represents “a landmark deal for solar in Europe” having secured finance debt against solar projects without government subsidy, Octopus said.
The investor is overseeing a further 110MW of subsidy-free solar projects in Italy which are being built at 12 additional sites.
Octopus head of energy investments Matt Setchell said: “I’m really excited that, together with MPS, Octopus has once again broken new ground in the European project finance market.
“This represents a major step on the path to bringing institutional grade renewable energy projects to European markets without government subsidy.”
Image: Pixabay
Octopus extends reach in Italy
By EBS