{"id":4526,"date":"2026-09-30T14:16:21","date_gmt":"2026-09-30T12:16:21","guid":{"rendered":"https:\/\/www.valecap.com\/portfolio\/cer-july-2026\/"},"modified":"2026-09-30T14:38:52","modified_gmt":"2026-09-30T12:38:52","slug":"cer-july-2026","status":"publish","type":"cpt_portfolio","link":"https:\/\/www.valecap.com\/it\/portfolio\/cer-july-2026\/","title":{"rendered":"CER (July 2026)"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">In July 2026, <strong>ValeCap<\/strong> acted as sole financial advisor to <strong>Comunit\u00e0 Energetiche S.p.A.<\/strong> (\u201c<strong>Comunit\u00e0 Energetiche<\/strong>\u201d) and its fully-owned vehicle CE Solar Hub S.r.l. (the \u201c<strong>Borrower<\/strong>\u201d) in structuring a <strong>\u20ac54 million project financing package<\/strong> (the \u201c<strong>Transaction<\/strong>\u201d) aimed at <strong>refinancing the existing debt related to 27 brownfield photovoltaic projects and financing the construction of 21 greenfield photovoltaic project<\/strong>s, for a <strong>total capacity of 49 MW<\/strong> (the \u201c<strong>Portfolio<\/strong>\u201d).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Backed by Fondo Italiano per l\u2019Efficienza Energetica SGR S.p.A.<\/strong>, one of the leading European infrastructure funds, <strong>Comunit\u00e0 Energetiche is an Italian company active in the development, construction and management of renewable energy communities and photovoltaic plants for on-site and local self-consumption<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The Portfolio is characterised by a complex revenue stacking strategy, combining 20-year incentive schemes<\/strong>, including Conto Energia, FER 1, FER X, CER, AID and SEU, <strong>with a significant merchant exposure<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The financing package comprised a Base Facility aimed at refinancing the existing indebtedness and allowing an extraordinary distribution at closing, a Construction Facility aimed at financing the construction capex of the greenfield projects and refinancing the excess equity already injected, and a Revamping Facility aimed at financing the revamping capex of the Conto Energia photovoltaic projects and allowing an extraordinary distribution at Commercial Operation Date<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The financing package also included ancillary facilities comprising a VAT facility, a DSR facility and a guarantee facility.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>BPER Banca S.p.A. acted as<\/strong> agent, <strong>original lender, structuring mandated lead arranger<\/strong>, hedging bank and bookrunner for the Transaction<strong>.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This transaction highlights <strong>ValeCap\u2019s ability to support renewable energy investors in structuring and executing complex financing solutions combining the refinancing of operating assets and the financing of greenfield projects<\/strong>. It further strengthens <strong>ValeCap\u2019s track record in advising on innovative financing structures for diversified renewable energy portfolios, combining long-term subsidised revenues with merchant exposure in the Italian market<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In July 2026, ValeCap acted as sole financial advisor to Comunit\u00e0 Energetiche S.p.A. (\u201cComunit\u00e0 Energetiche\u201d) and its fully-owned vehicle CE Solar Hub S.r.l. (the \u201cBorrower\u201d) in structuring a \u20ac54 million&hellip;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","template":"","cpt_portfolio_group":[88],"class_list":["post-4526","cpt_portfolio","type-cpt_portfolio","status-publish","hentry","cpt_portfolio_group-debt-advisory"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CER (July 2026) | ValeCap<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.valecap.com\/it\/portfolio\/cer-july-2026\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CER (July 2026) | ValeCap\" \/>\n<meta property=\"og:description\" content=\"In July 2026, ValeCap acted as sole financial advisor to Comunit\u00e0 Energetiche S.p.A. 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