ForVei has bought an 8MW PV project portfolio in Italy from OPDE for €88 million. Financial backing for the purchase came from a group of investors including Assicurazioni Generali, Intesa Sanpaolo, Palladio Finanziaria, Veneto Banca SpA and Banca Popolare di Vicenza Scrl, and the transaction was overseen by Foresight Group.
This is also the largest lease financing of PV plants arranged by a single bank in Italy; two Intesa Sanpaolo Group leasing companies own the systems and ForVei will pay a monthly rental fee for the next 18 years. Each project in the portfolio is expected to yield an annual equity return of 13%.
“We are very satisfied at completing the acquisition of the entire OPDE PV plants portfolio,” Foresight Group’s Pietro Zerauschek said. “Thanks to this operation, ForVei now handles a portfolio of over 28MW with a medium average annual return of 13%. The completion of the acquisition demonstrates that there is still interest for lenders in quality projects sponsored by high level investors, despite continuing pressure on markets.”
