October 28 (Renewables Now) - Italy-based Falck Renewables SpA (BIT:FKR) announced on Friday it has renegotiated a non-recourse project financing deal for a solar portfolio, thus extending it by EUR 13.3 million (USD 14.7m) to EUR 35 million.
Flack's subsidiary Actelios Solar SpA has secured the funds for three photovoltaic (PV) plants in Sicily totalling 13 MW. Located in the municipalities of Vittoria, Centuripe and Catania, these PV parks can generate about 19.9 GWh of total electricity per year.
The extended finance facility has maturity until December 2029, which is 3.5 years longer than the previous one. It will allow the company to replace 6 MW of existing solar modules to further improve the farms' performance, it said in the press release.
Credit Agricole Corporate & Investment Bank served as structuring arranger, hedging provider and agent bank for the facility.
(EUR 1 = USD 1.108)