Enel secures over £1 billion in funding for renewable energy subsidiary


In Italy, Enel Green Power has signed an agreement with F2i infrastructure fund to finance the expansion of solar PV operator EF Solare.

The refinancing of EF Solare Italia’s debt will enable the optimisation of the terms and conditions of credit lines, rationalise its corporate structure and support the future growth of the Group.

EF Solare Italia will receive over £1 billion (+$1.2 billion) from six financial institutions.

These include Cassa Depositi e Prestiti, Banca IMI (Intesa San Paolo Group), BNP Paribas Italian Branch, Credit Agricole Corporate & Investment Bank – Milan Branch, ING Bank NV – Milan Branch and Unicredit.

The agreement is claimed to be the most important ever to be carried out in Italy’s renewable energy sector.

EF Solare is a joint venture of Enel Green Power and F2i. The firm has been acquiring plants already in operation and positioning itself as an aggregator and technological leader. To date, it owns 123 plants.