Platina Energy completes €50m refinancing of 20 MW portfolio in Italy
Platina Energy Partners LLP has secured €50m non-recourse long term financing with ING Bank N.V. - Milan Branch in order to refinance their 20 MW photovoltaic portfolio, consisting of four operational projects located in Southern Italy built in 2011.
The refinancing reduces the cost of funding with respect to the old debt raised between 2011/2012, optimises the financing structure of the portfolio, increases marginally the gearing and improves materially the cash flows arising from the underlying assets.
"Platina is delighted to have closed this refinancing with ING Bank N.V. "“ Milan Branch. This is the second refinancing for the company in less than a month and is part of a restructuring process that Platina is implementing for its renewable portfolio across Europe."
