A fund managed by Basalt Infrastructure Partners II GP Limited (“Basalt”) completed the EUR 170m refinancing of Mareccio Energia, a 67MW platform, which Basalt established for the aggregation of small-scale operational Italian solar parks. BayernLB, BNP Paribas, Intesa Sanpaolo and Banco Santander acted as mandated lead arrangers on the transaction.

“The refinancing of existing SPV loans into a portfolio level debt-facility provides Mareccio Energia with a robust and efficient capital structure. Successfully executing the transaction during the Covid19 pandemic demonstrates the high quality and resilience of the portfolio. Basalt is pleased to further build its relationship with the strong and supportive group of lenders” said John Hanna, Partner of Basalt Infrastructure Partners LLP, exclusive investment advisor to Basalt.

Valecap acted as financial adviser to Basalt;  Ashurst and Roedl as joint legal advisers, and GMB as hedging adviser. DLA and EOS acted as legal and technical adviser respectively to the lenders. Basalt works with LCF Alliance and Belectric as its operating partners for this asset.