Qualitas Energy, a leading global investment and management platform with a dual focus on both funding and developing renewable energy, energy transition, and sustainable infrastructure, has announced that it has secured a c.€172 million non-recourse financing package for a 156 MWp greenfield solar photovoltaic (PV) portfolio in Italy.
The portfolio, owned by Qualitas Energy, comprises 15 solar PV assets located across the country. Its cashflow stability is supported by a diversified mix of long-term contracted revenues, combining FER X, Italy’s incentive mechanism for renewable energy sources; FER X NZIA, the dedicated framework aligned with the EU Net-Zero Industry Act; power purchase agreements (PPAs); and other support schemes.
The transaction was arranged by three leading banks: CaixaBank, La Banque Postale and DekaBank. The financing has been structured on a non-recourse basis and follows a fully amortising repayment profile. The package includes a term loan, customary ancillary facilities and an interest rate swap.
With this financing in place, Qualitas Energy strenghtens its position in Italy, supporting the continued build-out of a diversified renewable energy platform. Through Qualitas Energy Fund V, the firm currently owns approximately 65 MWp of Ready-to-Build (RtB) assets in the country. It is also advancing a development pipeline exceeding 1 GW across multiple regions, mainly composed of wind projects, with the relevant authorisations expected between 2027 and 2028.
Manuel Espinosa, Partner – Italy & Business Development at Qualitas Energy, said: “This financing represents an important step in the consolidation of our Italian platform, a strategic growth market for Qualitas Energy. The transaction reflects the strength of our integrated investment and development model and our ability to structure robust financing solutions for our own renewable energy portfolios, supported by diversified revenues and leading institutional banking partners.”
Qualitas Energy was advised by BonelliErede (legal), and Vector Renewables and Kiwa-Moroni (technical). DWF acted as legal counsel to the lenders.
About Qualitas Energy
Qualitas Energy is a leading global investment and management platform with a dual focus on both funding and developing renewable energy, energy transition, and sustainable infrastructure. Since 2006, the Qualitas Energy team has dedicated over €14 billion to the energy transition worldwide. These investments have been deployed through six vehicles: Fotowatio / FRV, Vela Energy, Qualitas Energy III, Qualitas Energy IV, Qualitas Energy V, and Qualitas Energy Credit Fund. Qualitas Energy’s existing portfolio currently comprises 11 GW of operational and development-stage renewable energy assets – including solar PV, concentrated solar power (CSP), wind, energy storage, hydroelectric power, and renewable natural gas – across Spain, Germany, the United Kingdom, Italy, Poland, Chile, and the United States. Over the past five years, Qualitas Energy has generated enough energy to supply 1.7 million homes and has successfully avoided the emission of 1.5 million metric tons of CO2 equivalent. The Qualitas Energy team consists of more than 500 professionals across fifteen offices in Madrid, Berlin, London, Milan, Hamburg, Wiesbaden, Trier, Cologne, Stuttgart, Warsaw, Wroclaw, Santiago, Durham, Bristol, and Edinburgh.
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