Project Silver Reaches Financial Close: Bluefield Expands in Southern Italy
Deal News | Jun 12, 2025 | Bluefield Partners LLP
Bluefield Partners LLP has successfully closed the acquisition of Project Silver, consisting of three operational ground-mounted solar photovoltaic (PV) plants situated in the Puglia region of southern Italy. This acquisition, which marks the final addition to the Revive fund before entering into its refinancing phase, was supported by technical, legal, and financial advisors, namely Kiwa, Advant NCTM, and Deloitte, respectively. With this acquisition, Bluefield enhances its presence in the fragmented Italian solar energy market, bringing its total to 48 plants and 26 Special Purpose Vehicles (SPVs) within the Revive portfolio. The strategic plan includes optimizing asset management practices through potential revamping and repowering to elevate energy production capacities, alongside refinancing efforts to bolster the capital structure. The aim is to collaborate with both Italian and international banks to raise additional capital, thus seizing opportunities in the renewable energy sector.
Sectors
- Renewable Energy
- Private Equity
Geography
- Italy – The acquired solar PV plants are located in Italy, specifically in the Puglia region, and the activities discussed are concentrated in this country.
Industry
- Renewable Energy – The article focuses on solar photovoltaic (PV) plants acquisition, which is directly related to the renewable energy sector, a key player in the transition to sustainable energy sources.
- Private Equity – Bluefield Partners LLP, a private equity firm, is undertaking the acquisition, denoting active involvement within the private equity industry.
Financials
- Not disclosed – The financial terms of the acquisition of Project Silver were not disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bluefield Partners LLP | Acquirer | Company | A private equity firm specializing in renewable energy projects. |
| Bluefield Revive Italia Srl | Acquirer | Company | Part of Bluefield Partners, focused on managing the Revive fund's assets in Italy. |
| Project Silver | Target | Asset | Comprises three ground-mounted solar PV plants in Puglia, Italy. |
| Kiwa | Technical Due Diligence | Company | Provided technical assessments for the acquisition. |
| Advant NCTM | Legal Advisor | Company | Legal firm advising on the transaction. |
| Deloitte | Financial and Tax Advisor | Company | Provided financial and tax advice for the acquisition process. |
| Alberto Paturzo | Partner, Head of Southern Europe | Person | Executive at Bluefield Partners, overseeing operations in Southern Europe. |
| Ferruccio Leandro Chiesi | Investment Director, Southern Europe | Person | Director responsible for investment activities in Southern Europe at Bluefield Partners. |