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Cubico raises EUR 173m to refinance Italian wind farms

Wind farm in Basilicata, Italy. Source: Cubico Sustainable Investments

October 22 (Renewables Now) - Cubico Sustainable Investments said today it has achieved financial close on its first green loan to refinance a portfolio of three Italian wind farms totalling 99 MW.

The London-based renewables investor has raised EUR 173 million (USD 192.7m) in total non-recourse project finance debt to back three fully-operational wind parks located in Campania, Apulia and Basilicata.

Cubico said that its green loan complies with the Green Loan Principles and has been supported by infrastructure firm AECOM.

Banco Bilbao Vizcaya Argentaria (BBVA), Credit Agricole Corporate and Investment Bank, Siemens Financial Services and Societe Generale took the roles of structuring mandated lead arrangers (MLAs), bookrunners and lenders. They were advised by Gianni, Origoni, Grippo, Cappelli & Partners, JCRA and KPMG.

(EUR 1.0 = USD 1.114)

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