CashNews.co
Italian renewable energy developer Ortus Power Resources Italy (OPRI), a joint venture between Ortus Climate Mitigation LLC and Omnes Capital’s Capenergie 4 fund, announced the financial close of up to €100 million bond issuance with I Squared Credit.
The proceeds of the issuance will finance the construction of up to approximately 740 MW of solar assets across Italy. The initial commitment of €46 million, with the option to increase up to €100 million, will accelerate OPRI’s unparalleled growth and solidify its position as an independent power producer in the Italian renewable energy sector.
Guido Cuzzolin, CEO of OPRI, said: “The proceeds of this bond will drive the completion of development and construction to power up to 400 000 homes in Italy. This achievement is a direct result of the exceptional hard work and unwavering dedication of Ortus’ Italian team, whose remarkable efforts continue to deliver outstanding results and exemplify the commitment at the core of our success. In close collaboration with I Squared, we are pleased to achieve this important milestone for our company, a true testament to the strength of our partnership and our shared vision for growth within the renewable energy world.”
Akereos acted as sole bookrunner, structurer, and exclusive debt advisor to OPRI. Gianni & Origoni served as legal advisor to OPRI and Norton Rose Fulbright served as legal advisor to I Squared.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global’s Autumn 2024 issue
Dive into the latest renewable energy insights in the Autumn issue of Energy Global, out now! The issue starts with an insightful guest comment from Cristiano Spillati, Managing Director at Limes Renewable Energy where he discusses the need for European renewable energy suppliers to accelerate the rate of the energy transition. This is followed by a regional report from Cornwall Insights on the battery energy storage industry in Australia. This issue explores key topics including offshore wind subsea cables, offshore wind support vessels, digitalisation, wind turbine components, and more!
Read the article online at: https://www.energyglobal.com/solar/01102024/ortus-power-resources-and-i-squared-finance-solar-portfolio/