Bia Power and Alternative Capital Partners structure investment to develop 750 MW of BESS projects in Italy

Bia Power and Alternative Capital Partners SGR S.p.A. have entered into an agreement to structure an investment arrangement aimed at supporting Bia Power’s growth within the joint venture established with EREN Groupe, under which Bia Power targets the development of BESS projects totaling 750 MW in Italy.

Bia Director Vickram Mirchadani said: “It is very positive to have an experienced, long-term Italian partner of ACP’s calibre join us in the development cycle of the joint venture and provide the additional financial capacity and strategic input we require to meet our target of sourcing 750MW for BESS construction and operations with EREN”.

The Managing Director of ACP Evarist Granata said: “We are very pleased to have agreed this investment in Bia, which has structured an innovative approach to large-scale BESS development in Italy through its JV with EREN. We look forward to a long term relationship as the projects progress from approval to construction and operation”.

Bird & Bird acted alongside both companies with a team coordinated by partner Pierpaolo Mastromarini, Head of the Energy & Utilities sector in Italy, and comprising senior associate Andrea Semmola and associate Vincenzo Maria Giorgio for Italian law matters, as well as Legal Director Jennifer Bird for English law matters.

The debt and equity were originated, structured and placed by ARC Associates, the London based Infrastructure corporate finance firm.