International law firm Ashurst has advised the lenders on the Amend & Extend of ERG Eolica Fossa del Lupo S.r.l. ('ERG')'s €103 million residual amount non-recourse project facilities agreement. ERG owns three wind farms located in the Calabria and Basilicata regions with a total installed capacity of 154 MW.
The amendment made it possible to classify the loan as a "Green Loan" and "Sustainability Linked Loan" in accordance with the Green Loan Principles and the Sustainability Linked Loan Principles. In addition, the Amend & Extend has improved the financing terms of the facilities and extended the loan maturity by three years.
The contract was signed by Crédit Agricole CIB Milan Branch, as coordinating & structuring bank, mandated lead arranger and green structuring loan coordinator, by BNP Paribas Italian Branch as mandated lead arranger and co-green structuring loan coordinator and by UBI Banca CIB, as mandated lead arranger and agent bank. Crédit Agricole Italia S.p.A. acted as account bank.
The Ashurst team was led by partner Carloandrea Meacci supported by senior associate Nicola Toscano and associate Paolo Gallarà. Partner Michele Milanese advised on tax aspects.
