Italy’s First Offshore Wind Project Reaches Financial Close

Beleolico Srl, part of the Toto Group, has reached a final investment decision on the 30MW Beleolico wind farm in the Italian Mediterranean.

EY assisted Natixis in financing the construction of the first offshore wind farm in the Mediterranean. The transaction is the first of its kind in Italy.

Natixis SA Paris acted as the financing bank and Natixis SA Milan Branch acted as the structuring bank in the financing deal. Beleolico Srl was assisted by BonelliErede in the deal.

Located in front of Taranto harbour in the Apulia region, Southern Italy, in water depths of 4 to 18 metres, the Beleolico wind farm will feature ten Senvion 3.0M122 wind turbines.

The project was initially scheduled to be commissioned by the autumn of 2018. According to Mott MacDonald, who is acting as owner’s engineer on the project, offshore installation is expected to be performed in late 2019, with project takeover expected to be completed in early 2020.

NOTE: The original article was updated on 26 February, 12:30 PM, CET.