DLA Piper advises Nord/LB on the EUR113.6 million project financing of two Italian wind farms

DLA Piper has advised NORD/LB Norddeutsche Landesbank on two project finance transactions worth EUR101.4 million and EUR12.2 million, respectively. The transactions will support the construction and development of two Italian wind farms located in the Municipality of Ariano Irpino (Avellino), and in the Municipality of Apricena (Foggia).

The Ariano financing benefits from a tranche guaranteed by the Export and Investment Fund of Denmark (EIFO). Both financings also include a tranche with KfW funding.

The Ariano wind farm, which entered into operation in July 2024, comprises twenty Vestas V150-4.2 MW wind turbines with a total capacity of 84 MW, placing itself among the largest wind farms constructed in Italy in recent times. The Apricena wind farm, with commissioning expected this October, comprises four Vestas V105-3.0 MW wind turbines with a total capacity of 12 MW.

The cross-border, multidisciplinary DLA Piper team was led by partners Giovanni Ragnoni Bosco Lucarelli and Wolfram Distler.

Giovanni Ragnoni Bosco Lucarelli, with the support of the legal director Claudio D’Alia, lawyer Francesco Chericoni and trainee Paola Nardella, advised on Italian financial considerations and the review of the project contracts. Partner Germana Cassar, together with lawyer Mattia Malinverni, carried out the regulatory due diligence. Partner Andrea Di Dio advised on tax matters.

Wolfram Distler together with senior associates Gabriela von Wietersheim and Patrick Reuter, from DLA Piper's Frankfurt office, provided assistance in relation to the German finance considerations, while partner Andreas Gunst together with counsel Alexander Schultmeyer and lawyer Michail Fouzailov, from DLA Piper's Vienna office, advised on the Austrian law aspects.