Foglia & Partners, with a team coordinated by Matteo Carfagnini and composed of Mariangela la Pastina, Francesco Capogrossi, Carolina Castelli and Emanuele Gentile, advised Green Arrow Capital, handling all tax aspects of the €85 million financing for the entire portfolio
Radiant fund photovoltaics.
Radiant is the first fund in the renewable energy sector launched by Green Arrow Capital in 2015. The fund, which began by co-investing with Tssp (TPG Sixth Street Partners), now holds 100 percent of a photovoltaic portfolio that includes 38 utility-scale assets owned by 10 special purpose vehicles, acquired in seven transactions from entities such as X-Elio (KKR), Sumitomo Corporation, SAG Solar, and Ternienergia. The plants are located in Apulia, Emilia-Romagna, Piedmont, Campania and Marche.
The financing operation saw a corporate reorganization with the implementation of an 85 million holding project financing that allowed, in particular, the repayment of existing debt, the execution of extraordinary maintenance work, and the provision of a capital repayment to the Radiant fund. The amount also includes a VAT line and a debt service reserve facility.