Global law firm Ashurst has advised the lenders, comprising Crédit Agricole Corporate and Investment Bank Milan Branch, ING Bank NV Milan Branch and Intesa Sanpaolo SpA, and SACE, as guarantor, on a €160 million loan to EF Solare Italia SpA, the largest owner of solar energy plants in Italy.The loan is part guaranteed by the new green guarantee issued by SACE SpA pursuant to the simplification decree as part of the Italian Green New Deal.

The Ashurst team was led by partner Carloandrea Meacci, assisted by senior associate Nicola Toscano and associate Paolo Gallara. Partner Michele Milanese advised on tax matters.

Commenting Carloandrea Meacci said:

“We are delighted to have advised the banks and SACE on this strategically important transaction, which is one of the first and one of the largest SACE Green Guaranteed loans in the market. As we transition towards a more sustainable economy financing green projects like the upgrade of EF Solare’s photovoltaic plants will help to sustain the push towards net zero.”