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Theia Investments to Finance Seven Italian Photovoltaic Plants of 17 MW

Theia Investments is expanding its investment in the renewable sector, with the purchase of seven more photovoltaic plants in Italy. In 2020, Theia had already purchased 10 photovoltaic plants in Italy. In particular, in November 2020 it had bought four rooftop plants for a total capacity of about 2.47 MW located in Tuscany and Umbria, belonging to a single spv and a 1 MW plant in Umbria.

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Theia Investments (Italy) 3 srl, a company of the Theia Holdings group, a leading British operator in the production of electricity from renewable sources, has secured a $35.3 million (€32 million) loan from BPER Banca for seven Italian photovoltaic plants, with a total capacity of approximately 17 MW.

Orrick has assisted on the legal side of the project finance team of BPER Banca – Corporate & Investment Banking Division, as arranger and lender bank. Grimaldi has assisted the group Theia Holdings. Mfz assisted Theia group as exclusive financial and model advisor of the operation. Kpmg also acted alongside Theia group as a model auditor. Finally, notary Carlo Munafò took care of the stipulation of the notarial acts.

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Last July 2021, Theia Investments (Italy) 3 srl had taken over three photovoltaic plants in Apulia for a total of 3 MW

In June it had taken over from a group of entrepreneurs a 3 MW portfolio of photovoltaic greenhouses in Sardinia, while in March it had taken over a 1 MW rooftop photovoltaic plant in Piedmont. In February 2021, the same vehicle had taken over from private individuals a 1 MW photovoltaic plant in Puglia. Also in February 2021, Theia Investments had obtained from Intesa Sanpaolo a loan of about $45 million (€41 million) for 23 photovoltaic plants in Italy.

In 2020, Theia had already purchased 10 photovoltaic plants in Italy. In particular, in November 2020 it had bought four rooftop plants for a total capacity of about 2.47 MW located in Tuscany and Umbria, belonging to a single spv and a 1 MW plant in Umbria. In July, instead, Theia had bought two plants with single-axis trackers, for a total of 1.99 MW peak, always located in Umbria and always through the acquisition of the shares of the SPV that owns them.

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Finally, in May, the company bought the three spvs owning as many plants for a total capacity of 2.9 MW in Abruzzo and Puglia, in the municipalities of Penne (Pescara), Seclì (Lecce), and Mola di Bari (Bari) until then managed by the German Clean Power 3 GmbH, a subsidiary of Clean Power Holding/Schoeller Group. In December 2019, instead, Theia had taken over two photovoltaic plants with a total capacity of 1.49 MWp, located in the province of Alessandria and Biella. The seller had been Renergetica, through its subsidiary Zaon. The sale, which took place through the transfer of 100% of Spigno Solar, had been carried out as part of the reorganization of the activities of the Renergetica Group.

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(Featured image by natannan23 via Pixabay)

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First published in Be Beez, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Anthony Donaghue writes about science and technology. Keeping abreast of the latest tech developments in various sectors, he has a keen interest on startups, especially inside and outside of Silicon Valley. From time to time, he also covers agritech and biotech, as well as consumer electronics, IT, AI, and fintech, among others. He has also written about IPOs, cannabis, and investing.