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Cubico secures €173M to refinance 3 Italian wind farms

Cubico Sustainable Investments has secured €173 million in nonrecourse project finance debt to refinance three Italian wind farms.

The facilities, located in Campania, Apulia and Basilicata, are fully operational and have a combined capacity of 99 MW, according to an Oct. 22 press release.

Banco Bilbao Vizcaya Argentaria, Crédit Agricole Corporate and Investment Bank, Siemens Bank and Société Générale acted as structuring mandated lead arrangers.

Cubico is a renewable energy investor backed by Canadian pension funds PSP Investments and Ontario Teachers' Pension Plan.