L&B PARTNERS SECURES PROJECT FINANCING FOR AGRITRE BIOMASS PLANT
03 november 2017
L&B Partners S.p.A. secures loan agreement with Agritre S.r.l., Ardian and Tozzi Green S.p.A. for a €60 million project financing deal.
L&B Partners S.p.A. advised borrower Agritre S.r.l. and the project sponsors (Ardian and Tozzi Green S.p.A.) in the legal and financial aspects related to the structuring, negotiation and signing of a €60 million project financing facility agreement in connection with a 25.2 MW plant-based biomass power plant located in Sant’Agata di Puglia (Foggia).
The plant is one of the largest of its kind in Italy, with an expected production of approximately 188,000 MWh of electricity per year, capable of meeting the energy needs of over 47,000 families. By burning mainly cereal straw, the main by-product available in the province of Foggia, it ensures benefits to the environment and to the local economy.
The Sponsors were assisted in all legal aspects by L&B Partners Avvocati Associati, with a team led by partner Michele Di Terlizzi and composed of senior associate Andrea Semmola, associate Giuseppe Candela and trainee Carlo Maria Tealdo. Financial aspects were supervised by L&B Partners S.p.A. with a team consisting of partner Rocco Giorgio and senior analyst Gianmarco Carella.
The law firm Watson Farley & Williams assisted the pool of lender banks (including Banca IMI as agent bank, Mediocredito Italiano S.p.A., UBI Banca S.p.A. and Cassa dei Risparmi di Forlì e della Romagna S.p.A.) with a team led by partner Pierpaolo Mastromarini and composed by senior associate Michele Arruzzolo, as project manager, and by trainee Paolo Gallarà. Partner Tiziana Manenti, assisted by associates Cristina Betti and Anthony Bellacci and trainee Antimo Nersita, took care of all due diligence aspects relating to permits and land rights.