Greentech Lead Europe: AES Solar, a joint venture between
The AES Corporation and Riverstone Holdings, has closed on 77 million euro of
long-term non-recourse financing for Elpida project in Italy. The financing
facility closed this in May 2012 and was used to refinance the equity advanced
during construction of the Elpida project.
Dexia Crediop, DNB Bank and ING Bank were the lead
arrangers of the financing.
Elpida project consists of a portfolio of ten solar
photovoltaic (PV) power plants totaling 27 MW, located in the Lazio and Sicily
Six of the power plants totaling 21 MW achieved
commercial operation during the second half of 2011, while the remaining four
PV installations totaling 6 MW completed construction during the first two
months of 2012.
The 6 MW plants have been qualified for a 20-year feed-in
tariff regulated under the fourth Conto Energia renewable energy tariff
AES Solar currently has a global operating portfolio of
232 MW in Bulgaria, France, Greece, India, Italy and Spain, and has 24 MW under
construction in the United States.