Steer provided financial advisory assistance in securing EUR 185 million in project financing for two of Italy’s largest subsidy-free agrivoltaic projects in Sicily.
Developed by Capital Dynamics, a global leader in renewable energy investments, these projects have a combined capacity of 187 MW and mark a significant advancement in Italy’s sustainable energy and agricultural initiatives.
The financing, led by Natixis Corporate and Investment Banking (CIB) as Sole Underwriter and Green Loan Coordinator, is one of the largest clean energy deals in Italy in 2024.
Steer was engaged to serve as the lender's model auditor, undertaking a comprehensive review and validation of the financial model to ensure accuracy, reliability, and internal consistency. This critical step provided Natixis CIB and other stakeholders with the confidence required to move forward with the financing.
The project team included Raffael Massa, Head of Financial Advisory for Steer Italy, and Senior Consultant Linda Belli.
The projects are expected to generate approximately 324 GWh of clean energy annually. This production equates to over 87,000 tonnes of avoided CO2 emissions and enough electricity to power more than 63,500 homes each year.
Beyond renewable energy production, the projects integrate sustainable agricultural practices, including olive groves, prickly pear cultivation, and honey production, supporting local economies and biodiversity.
This achievement underscores Steer’s expertise in supporting large-scale, innovative renewable energy projects and solidifies its role in advancing Italy's clean energy ambitions.
For more information on Steer’s financial advisory expertise in Europe, please contact Raffael Massa.
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