AES Solar Energy Ltd., a joint venture between The AES Corp. and Riverstone Holdings LLC, says that one of its subsidiaries has closed on long-term project financing of 173 million euros to finance the construction of the Cellino San Marco (CSM) project, a 43 MW solar photovoltaic facility located in the Puglia region of Italy.
A total of five banks participated in this financing: Societe Generale, Unicredit Mediocredito Centrale, BNP Paribas, Credit Agricole Corporate and Investment Bank, and Dexia Crediop.
Construction on the project is under way, and the project is expected to reach commercial operation by the end of this year, qualifying it for a 20-year regulated feed-in tariff under the Conto Energia scheme. CSM will use First Solar thin-film panels.
SOURCE: AES Solar Energy Ltd.