DLA Piper and Dentons with Commerzbank and CCE for the financing of a photovoltaic plant in Italy

DLA Piper and Dentons have assisted Commerzbank and Montalto di Castro respectively, a company of the international energy transition group CCE Holding GmbH, in a €24 million project financing operation for the construction and development of a 42.08 MW photovoltaic plant in the municipality of Montalto di Castro (VT).

The operation is structured as a bridge financing, without recourse to the sponsor, which consequently required the presence of typical guarantees and verifications of project financing operations, in order to ensure refinancing at the end of the construction period.

The project is supported by a ten-year PPA signed with BKW Energie AG.

DLA Piper assisted Commerzbank with an international and multidisciplinary team coordinated by partner Giovanni Ragnoni Bosco Lucarelli who, with the support of lawyer Gianfranco Giorgio as project manager, lawyer Francesco Chericoni and Camilla Corradini, provided assistance in relation to Italian financial documentation. Partner Germana Cassar handled the administrative due diligence. Partner Andrea Di Dio handled tax matters related to financial documentation. Partner Wolfram Distler (PICTURED LEFT), together with counsel Kais Torchani from the Frankfurt office, handled aspects of German law, while partner Andreas Gunst from the Vienna office dealt with aspects of Austrian law.

Dentons assisted Montalto di Castro S.p.A. and CCE Holding GmbH with a multidisciplinary and multi-jurisdictional team led by partner Carsten Steinhauer, Co-Head of Dentons Europe Energy Sector Group, and composed in Italy of partner Gianpaolo Garofalo and counsel Bianca Chiara Sinisi, for banking and finance law aspects; partner Mileto Giuliani, counsel Riccardo Narducci, associate Giulia Ostan and trainee Carlo Garau, for administrative and energy law aspects; senior counsel Christian Fabricatore, for corporate aspects. Partner Axel Schlieter (PICTURED RIGHT), together with counsel Julia Heitmann from the Düsseldorf office, handled aspects of German law.

michela.cannovale@lcpublishinggroup.com

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