Enel Green Power and the F2i infrastructure fund, partners in the Gruppo EF Solare Italia ("EF") equal joint venture, the leading photovoltaic operator in Italy, announced the signing of an agreement to refinance EF’s debt with a pool of credit institutions.

The transaction, the most important ever carried out in the photovoltaics sector in Italy, involves five leading financial institutions: Banca IMI (Intesa Sanpaolo Group), BNP Paribas Italian Branch, Credit Agricole Corporate & Investment Bank – Milan Branch, ING Bank NV – Milan Branch, UniCredit which, together with the participation of Cassa Depositi e Prestiti, will provide a total of 1.02 billion euros of new debt in the form of a non-recourse project financing arrangement.

The refinancing, which consolidates EF’s growth over the past few years, enables EF Solare Italia, acting through EF Kosmos ‑ a wholly owned subsidiary that controls all the companies owning the plants involved in the transaction ‑ to optimise the terms and conditions of the credit lines, to rationalise its corporate structure and to support the future growth of the Group.

EF Solare Italia

With 123 plants in 14 regions and an installed capacity of almost 400 MW, EF Solare Italia is the leading photovoltaics player in Italy. An equal joint venture between Enel Green Power and F2i, EF Solare Italia is leading the consolidation underway in the sector, acquiring plants already in operation and positioning itself as an aggregator and technological leader in a continuously growing market.