- It will finance the creation of a 34.65 MW wind farm in the province of Benevento;
- The 49.1-million-euro bond was issued by the Toto Group subsidiary on the ExtraMOT PRO segment of the Borsa Italiana;
- Riccardo Toto, General Manager of Renexia: “This transaction confirms the concreteness of the path we’ve undertaken towards that transition to
renewables that the EU and the nation require with precise deadlines and timeframes”.
Rome, 29 December 2020 – A 49.1-million-euro “green bond” was issued yesterday by Renexia S.p.A. (Toto Group) on the ExtraMot PRO segment of the Borsa Italiana. The “green bond”, the very first of its kind in our country, was issued to finance the creation of a wind farm in the town of Casalduni, in the province of Benevento.
“This transaction”, emphasises Riccardo Toto, the company’s general manager, “confirms the concreteness of the path we’ve undertaken, as Renexia, towards that transition to renewables that the EU and the nation require with precise deadlines and timeframes. The path was decided upon in the certainty that renewables represent the only possible road for future energy production, one that is compatible with the priority needs of sustainability that are recognised internationally. The fact that we are the first in our country to issue a “green bond”, confirms that Renexia is a key player in Italy in this sector, as well as being recognised among the most technologically advanced operators throughout the world. The large, floating wind farm project in the Strait of Sicily, which we are now presenting to various institutions and associations concerned, provides additional concrete proof of this”.
The bond was technically issued by Parco Eolico Casalduni, a company that is 100%-owned by Renexia S.p.A., and will expire on 31 December 2029. The underwriters are Foresight Group S.C.A. SICAV-SIF-Italian Green Bond Fund (ING) and Rivage Euro Debt Infrastructure High Return (FRA).
The object of the “green bond” will be a 34.65 MW plant that will be connected to the Italian national grid (RTN) by February 2022. The wind farm will consist of 10 3.465-MW Siemens Gamesa turbines.
“The transaction just finalised, dedicated to the creation of the wind farm in the town of Casalduni, gives Renexia group reason for pride and confirms its ability to arrange innovative financial solutions”, specifies Tommaso Garzelli, Finance and M&A Manager for Renexia, “It’s worth emphasising again, in fact, that this is the first “green” bond issue on the Italian stock market, underwritten by international investors for a “greenfield” wind farm of this size, which will be added to the financing of the wind farm in the US and to the re-financing of the offshore wind farm in Taranto”.
“This plant”, highlights Paolo Sammartino, the company’s Chief Operating Officer, “is unique for renewables in Italy given its efficiency, owing to an important technological contribution, that will maximise its performance, raising its capacity factor to among the highest in the country”.