Recurrent Energy has completed financial close of a significant transaction involving its Italian portfolio. The assets are held through a privately managed Italian Real Estate Investment Fund (REIF), in which Recurrent Energy holds a majority stake.
The transaction secures €61.5 million in non-recourse debt financing from Santander Bank.“This is a strategic milestone for Recurrent Energy in Europe,” said Ismael Guerrero, CEO of Recurrent Energy. “By successfully closing a non-recourse structure—while integrating a storage asset into the facility—we continue to demonstrate our ability to execute complex transactions that unlock value and reinforce our IPP strategy.”
This financing supports both the 124 MW operational solar portfolio and the construction of a co-located Battery Energy Storage System (BESS). The addition of the BESS marks a strategic innovation, enhancing grid stability and unlocking new revenue optimization opportunities.
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