The Project

€ 32 million financing in favor of Sorgenia Gemini, Special Purpose Vehicle belonging to Sorgenia Group, in the form of a non-recourse Project Financing qualified as “Green Loan”,   made available by Banco BPER with the aim of financing the construction of a fully merchant 30 MW PV plant located in the Municipality of Grosseto.

Arcus’ role

Arcus Financial Advisors has advised the company on the activities of structuring, modelling, negotiation and finalization of the financing.

The Project

€ 54 million financing in favor of Ecoenergia Franzese, Special Purpose Vehicle belonging to Whysol Investments Group, in the form of a non-recourse Project Financing qualified as “Green Loan”,   made available by Banco BPM, BPER and Intesa Sanpaolo and is composed by different facilities with the aim of financing the construction of a 38 MW wind farm located in the Municipality of San Marco dei Cavoti.

The transaction represents an important precedent in the market by showing an initial period of the operation  where the plant operates without the support of incentives and keeping along the entire lifetime of the financing a portion of the production  fully merchant

Arcus’ role

Arcus Financial Advisors has advised the company on the activities of structuring, modelling, negotiation and finalization of the financing.

The Project

€ 6 million project financing in favor of VBIO1 and VBIO2, SPVs controlled by Viridis Energia, related to two biogas plants located in the province of Macerata.

Arcus’ role

Arcus Financial Advisors has advised the company in the activities of structuring, modelling, negotiation and finalization of the financing.

The Project

€ 142 million project financing in favor of Ital Gas Storage, a company controlled by the infrastructure fund F2i, to sustain the company in the capex plan associated to the Undergroung Gas Storage Facility located in Cornegliano Laudense (LO)

Arcus’ role

Arcus Financial Advisors has advised the company in the activities of structuring, modelling, negotiation and finalization of the financing.

The Project

€ 118 million project financing, identified as a Sustainability Linked Loan, in favor of Cogenio, a company 80% owned by the UK based fund Infracapital and 20% by ENEL X Italia, to finance the current portfolio of cogeneration plants and to support the development and implementation of its pipeline in the energy efficiency sector

Arcus’ role

Arcus Financial Advisors has advised the company and the sponsors in the activities of structuring, modelling, negotiation and finalization of the financing.

The Project

Executed the financing agreement for €19.1 million in favor of Easy Energia s.r.l., Special Purpose Vehicle controlled by WTE Holding s.r.l. (in turn owned by Anaergia s.r.l.). The financing, in the form of a non-recourse Project Fiunancing, has been made available by Banco BPM and MPS Capital Services and is composed by different facilities with the aim of financing the construction of an innovative biomethane plant feeded with the organic fraction of urban waste (FORSU) located in the Municipality of Pontinia.

Arcus’ role

Arcus Financial Advisors has advised the company on the activities of structuring, negotiation and finalization of the financing.

The Project

“HoldCo” re-financing, qualified as “Green Loan”, for a total amount of €135 million in favor of Windrose Holding, company indirectly owned by Whysol Group, related to a portfolio of wind and photovoltaic plants for a total installed capacity of 118 MW.

Arcus’ role

Arcus Financial Advisors has assisted EWindrose Holding on the activities of structuring, modelling, negotiation of the financing contract and financial close.

The Project

Executed the financing agreement for €18.8 million in favor of Green Power Marcallese, Special Purpose Vehicle controlled by Sorgenia Sviluppo s.r.l. (in turn owned by Sorgenia S.p.A.) for 75% and by the industrial partner Agatos S.p.A. for the remaining 25%. The financing, in the form of a non-recourse Project Fiunancing, has been made available by banco BPM and is composed by different facilities with the aim of financing the construction of an innovative biomethane plant feeded with the organic fraction of urban waste (FORSU)

Arcus’ role

Arcus Financial Advisors has advised the company on the activities of structuring, negotiation and finalization of the financing.

The Project

Executed the financing agreement for €35 million in favor of Eco Eridania, company controlled by Icon Infrastructure Fund, specialized in medical waste management, to finance the working capital needs of the Company. The financing benefits from the SACE guarantee as provided by the Decreto Liquidità and has been made available by a pool of Italian and International banks

Arcus’ role

Arcus Financial Advisors has advised the company on the activities of structuring, negotiation and finalization of the financing.

The Project

Perfected the acquisition and simultaneous  refinancing in project financing for a debt amount of € 3.7 million of Agri Energia Istia società agricola a r.l. by Americas Power Partners Inc. through the Italian sub-holding APP Italy S.r.l..

Arcus’ role

Arcus Financial Advisors has assisted APP and Istia during the acqisition process and in the  structuring, modelling and negotiation of the financial documents and hedging

The Project

Re-financing for a total amount of €320 million in favor of EF Solare Italia in project financing on “HoldCo” basis of a portfolio of photovoltaic plants for a total installed capacity of 118.5 MW.

Arcus’ role

Arcus Financial Advisors has assisted EF Solare Italia on the activities of structuring, modelling, negotiation of the financing contract and financial close.

The Project

Completed the refinancing of AV Green 3 s.r.l. and Sammartein società agricola a r.l., both controlled by Americas Power Partners Inc. through the Italian sub-holding APP Italy S.r.l., of two credit facilities on “MultiBorrower” basis for a total amount of €6.7 million.

Arcus’ role

Arcus Financial Advisors has assisted the two companies on the activities of structuring, modelling, re-negotiation of the financing contracts and financial close.

The Project

IGS, company controlled by the Morgan Stanley infrastructural fund and Whysol Investments, has renegotiated the 2016 credit facility for €1.2 billion.

Arcus’ role

Arcus Financial Advisors has assisted IGS on the activities of structuring, modelling, re-negotiation of the financing contract and financial close.

The Project

F2i – Fondi Italiani per le Infrastrutture – has completed the refinancing of three wind energy plants for a total installed capacity of 138 MW; the transaction, on “Multi-Borrower” basis, has been set to reimburse the existing credit facilities of the three operating companies VRG Wind 030, 040 and 060 and to finance the 18MW expansion of one of the three plants on merchant basis.
The transaction, for a total amount of €125 million, is characterized for the complexity for both the multi-borrower basis with the 18MW expansion of the portfolio of one of the three special purpose vehicles and the innovative financial structure in terms of terms and tenor, the latter longer than the incentivized period, therefore assuming the lenders the risk on the merchant component of the cash flows.

Arcus’ role

Arcus Financial Advisors has assisted F2i on the activities of structuring, modelling, banks’ selection, negotiation of the financing contract and financial close.

The Project

EF Solare Italia, company owned by F2i (the leading Italian infrastructural fund) has completed the acquisition of 30 photovoltaic plants for a total installed capacity of 34MW owned by the Israelian Econergy Group. The plants are located in several regions in Italy and have different technical solutions (on land, building integrated, with tracking systems).

Arcus’ role

Arcus Financial Advisors has advised EF Solare Italia on the portfolio evaluation activities.

The Project

Joint venture between Repower Italia, subsidiary of the homonymous Swiss power operator, and Omnes, French private equity fund, to manage their respective wind, photovoltaic and mini-hydro portfolios for a total installed capacity of 90MW.

Arcus’ role

Arcus Financial Advisors has assisted Repower Italia on the evaluation of the perimeter of the transaction.

The Project

Executed the financing agreement for €140 million in favor of Eco Eridania, company controlled by Icon Infrastructure Fund, specialized in medical waste management, to reimburse the existing credit facilities and to support new investments and capex for growth.

Arcus’ role

Arcus Financial Advisors has advised the company on the activities of structuring, modelling, banks’ selection, negotiation of the financing contract and financial close.

The Project

E2i Energie Speciali has executed a new financing contract for €100 million to build eight new wind farms and to support further growth.

Arcus’ role

Arcus Financial Advisors acted as sole financial advisor for the activities of structuring, modelling, banks’ selection, negotiation of the financing contract and financial close.

The Project

Whysol Investments I S.p.A., company whose share capital is owned by Whysol Investments and VEI Green, has closed a €120 million refinancing contract for three wind farms totaling 90MW within its wind energy portfolio.

Arcus’ role

Arcus Financial Advisors acted as sole financial advisors of the sponsors for the activities of structuring, modelling, banks’ selection, negotiation of the financing contract and financial close.

The Project

Ital Gas Storage S.p.A., the leading independent operator in the field of gas storage services in Italy controlled by Morgan Stanley Infrastructure Fund and Whysol Investments, has closed financial contract for €1.2 billion loan to build and operate a natural gas storage facility with a capacity of 1.3 billion cubic meters in Cornergliano Laudense, nearby Milan.

Arcus’ role

Arcus Financial Advisors acted as sole financial advisors of the two sponsors for the activities of structuring, modelling, banks’ selection, negotiation of the financing contract and financial close.

The Project

Falck Renewables S.p.A., a company of the Falck Group operating in the renewable energy sector, is constantly looking for opportunities in the photovoltaic and wind energy sectors in Italy and abroad, both greenfield and brownfield.

Arcus’ role

Arcus Financial Advisors has assisted Falck Renewables S.p.A. on the activities of evaluating certain potential targets.

The Project

€ 88 million HoldCo financing in favor of Genesi 22 Holding, a company owned by HISI S.p.A., holding investing in the sanitary sector  controlled by funds advised by the infrastructure fund Ardian, to sustain the refinancing of the existing indebtedness of the SPVs Genesu Uno and Genesi Due, concessionaires of the Legnano and Verduno hospitals

Arcus’ role

Arcus Financial Advisors has advised the company in the activities of structuring, modelling, negotiation and finalization of the financing.

The Project

Strada dei Parchi S.p.A. is the concessionaire for the construction and operation of the A24 (Roma-Termano) and A25 (Torano-Pescara) motorway financed under a Project Finance scheme by a Pool of Italian and International banks.

Arcus’ role

Arcus Financial Advisors assists the Pool of banks in the management of contractual provisions of the financing  for the purpose of compliance with the contractual obligations and managing the relationship with the Concessionaire.

The Project

Resia Interconnector S.r.l. is the concessionaire for the construction and operation, under the exemption regime for third party access, of the DC interconnection between Italy and Austria.

Arcus’ role

Arcus Financial Advisors has assisted Resia Interconnector s.r.l. (company owned by a  consortium of Italian energy consumers), in the structuring of a VAT Facility composed by a € 12 million revolving facility and a € 18 million discount facility without recourse

The Project

Monita Interconnector S.r.l. is the concessionaire for the construction and operation, under the exemption regime for third party access, of the 445 km submarine DC interconnection between Italy and Montenegro. The construction has been funded in project financing by a pool of Italian and foreign banks.

Arcus’ role

Arcus Financial Advisors has assisted Interconnector Energy Italia, a consortium of Italian energy consumers, in the structuring of the € 231 million project financing for the acquisition from Terna of Monita Interconnector and the payment of the construction works carried out by Terna

The Project

Piemonte Savoia (Pi.Sa) S.p.A. is the concessionaire for the construction and operation, under the exemption regime for third party access, of the 190 km DC underground interconnection between Italy and France. The construction has been funded in project financing by a pool of Italian and foreign banks and by the EIB (European Investment Bank).

Arcus’ role

Arcus Financial Advisors has assisted Pi.Sa on managing the financing agreement for the purpose of compliance with the contractual obligations, updating the financial model and managing the relationships with the financial institutions.

The Project

Metro 5 S.p.A. is the concessionaire for the construction and operation of the Line 5 of the Metropolitana Milanese (the Milan Metro). The construction of the line has been funded in project financing by a pool of Italian and foreign banks as well as by institutional investors.

Arcus’ role

Arcus Financial Advisors has assisted Metro 5 S.p.A. on managing the financing agreement for the purpose of compliance with the contractual obligations, updating the financial model (PEF) and managing the relationships with the financial institutions. During 2019 Arcus has developed a new economic and financial (PEF) regulating the relationships between the investors (Banking Base Case).

The Project

M4 S.p.A. is the concessionaire for the construction and operation of the Line 4 of the Metropolitana Milanese (the Milan Metro). The construction of the line has been funded in project financing by a pool of Italian and foreign banks.

Arcus’ role

During 2019 Arcus Financial Advisors has assisted the company on developing a new financial model (PEF) regulating the relationship with both the concession provider (the Municipality of Milan) and the financial institutions (Banking Base Case) and onto the renegotiation process of the economic and financial rebalancing with the concession provider.

The Project

Tram di Firenze S.p.A. is the concessionarie for the construction and management of the 1, 2 and 3 tram lines in the municipality of Florence. The construction has been funded in project financing by a pool of Italian and foreign banks.

Arcus’ role

During 2016 and 2017 Arcus Financial Advisors has assisted the company on updating the financial model (PEF) regulating the relationship with the financial institutions and on the negotiation for the release of the funds.

The Project

A leading global operator in the facility management sector with headquarter in France (Veolia) has participated to the disposal procedure for the medical division of a primary Italian operator in the hospital and facility & energy management industry.

Arcus’ role

Arcus Financial Advisors has assisted SIRAM, the Italian subsidiary of Veolia, on setting up the valuation financial model and onto evaluating the potential target.