ContourGlobal has secured financing from UBI Banca for three solar photovoltaic power plants in Sicily, Italy it recently acquired from Siemens.
The transaction has been structured as 14-year non-recourse project financing . “We are proud to execute this transaction with UBI Banca which has been our financing partner in Italy since our successful market entry in 2010.
“The transaction provides an attractive expansion of our Italian presence and increases our growing European solar asset platform to 69 megawatts and our total global renewables generation capacity to 1,137MW. UBI has been our partner since our market entry in Italy and this is now our third consecutive financing with UBI in the Italian market,” said Joseph C. Brandt, ContourGlobal’s President and Chief Executive Officer.