Ashurst advised UniCredit S.p.A. and Banco Santander S.A. Milan in relation to a €65.2 million project financing to Nuova Energia S.r.l., which owns a 72 MW wind farm in the municipalities of Gravina and Poggiorsini, in the Puglia region (Italy).

The sponsors of the transaction are Fri-El Green Power SpA and Golden Agri Resources. It is one of the few wind project financings closed in Italy in the last 12 months and one of the first project financings benefitting from a feed-in tariff, instead of green certificates.

The Ashurst team was led by Milan-based partner Carloandrea Meacci, assisted by senior associate Francesca Brilli and associates Elena Macchi and Nicola Toscano.