Tages Capital SGR, an asset manager specializing in private equity investments, has announced two new acquisitions in Italy via its Tages Helios Net Zero fund. The first portfolio comprises 151 operational photovoltaic power plants with a total capacity of 122.7 MW, mainly located in Apulia, 99 MW of which use tracker technology. The second portfolio includes 45 operational photovoltaic power plants with an installed capacity of around 38.1 MW, spread across several Italian regions, including Campania, Apulia, Molise, Emilia-Romagna, Marche, Lombardy, Sicily and Lazio.
Financing and Banking Partnerships
For these acquisitions, Tages Capital SGR secured a loan of 563 million euros, including credit lines for acquisitions already made, refinancing of existing debt, and financing of modernization and repowering work on the power plants. This financing was provided by a pool of six banks: BNP Paribas Italia, Intesa Sanpaolo S.p.A., Société Générale S.A. – Milan Branch, Banco Bilbao Vizcaya Argentaria S.A. – Milan Branch, Crédit Agricole Investment Banking and Banco BPM S.p.A., acting as green loan coordinators and lenders. In May, another €153 million financing transaction was finalized for the Tages Helios II fund’s investments in 2023, concerning the acquisition of 99 MW of photovoltaic power plants. The loan was underwritten by eight banks, including BNP Paribas Italia, Intesa Sanpaolo S.p.A., Société Générale S.A. – Milan Branch, and others, also acting as green loan coordinators and lenders.
