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PV Roof Systems in Italy: Coversol Solar Investment Secures Financing For a Solar Roof Portfolio

Frankfurt am Main, Germany - Coversol Solar Investments GmbH has successfully secured subordinated financing for a portfolio of PV rooftop installations on commercial and industrial buildings in Italy. The funds for the 29 MW portfolio "Coversol 1" are provided by Energy Transition International Capital on behalf of the Energy Transition Europe Fund.

The company recently announced the financial close of the senior project financing package with a club consisting of Crédit Agricole Transitions & Energies, respectively the financing arm Unifergie and BPCE Energeco (a branch of BPCE LEASE). With the closing of the mezzanine financing, the overall financing for the Coversol 1 portfolio is now closed. Capcora acted as financial advisor to CSI.

The portfolio is one of the largest of its kind in Italy and consists of over 44 photovoltaic rooftop installations, mainly located in Piedmont, with a combined energy generation capacity of 7 MWp in operation and 15 MWp under construction. All projects are operated under the Italian "FER1" support program, which guarantees a feed-in tariff for 20 years. Part of the production is sold on site as part of power purchase agreements (onsite PPAs).

Source: IWR Online, 18 Mar 2024