Italy's Falck Renewables agrees EUR-150m credit line
Solar system in southern Italy. Author: Richard Allaway. License: Creative Commons, Attribution 2.0 Generic.
Italy’s Falck Renewables SpA (BIT:FKR) said on Friday it has agreed a EUR-150-million (USD 168.2m) revolving credit line with a pool of primary financial institutions.
The renewable energy developer will use the funds to cover its corporate financing needs and to sustain group development activities, it said in a statement.
The credit line was arranged by Banco Popolare Sc, Banca Popolare di Milano Scarl, Banca Popolare di Sondrio Scpa, Credito Valtellinese Sc, Intesa Sanpaolo SpA, Mediobanca SpA, Banca Monte dei Paschi di Siena SpA, UBI Banca Scpa and Unicredit SpA. The five-year facility will expire on June 30, 2020.
The Italian firm operates wind, solar, biomass and waste-to-energy plants. As at the end of March 2015, Falck had 725.7 MW of installed renewable power production capacity, including 674.6 MW of wind.