Renewable energy specialists Quercus Real Assets and Elionia have closed the financing of three greenfield biomethane plants that will be built in northern Italy.
The €76m transaction was completed through their joint venture vehicle, QGM, and marks a significant milestone in their shared commitment to accelerate the energy transition.
Project financing was arranged by BNL BNP Paribas, Banco BPM and Mediocredito Centrale. SACE, the insurance and financial group controlled by the Ministry of Economy and Finance, will guarantee 50% of the facility.
The three plants represent the first phase of a broader portfolio comprising more than 20 similar initiatives planned for development in the same region. The plants will be built during the next ten months and will be operated using agriculture by-products and animal manure.
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