RIC Energy Secures €25.5 Million Green Financing with Banco Santander
Deal News | May 14, 2025 | Finance Community IT - 1 Corporate M&A
RIC Energy has finalized a green financing deal worth €25.5 million with Banco Santander, supported by CECSE. The funds are earmarked for constructing a solar photovoltaic portfolio with a total capacity of 54 MW in northern Italy. The advisory for this operation was provided by SURE Sustainable Revolution, specializing in debt structuring and negotiation. Legal and technical consultancy services were offered by Bird & Bird and Praxi, respectively. The portfolio, named Luminis, consists of ten solar installations spread across five Italian regions, all of which are in the ready-to-build stage, each with an average power output of 5.4 MWp. Expected to be completed by the end of 2026, these installations will provide energy to over 32,000 households. This initiative underscores RIC Energy's commitment to the Italian market, expanding its developing portfolio to 750 MW, with projections of 64 MW to be operational by 2026. RIC Energy continues to evolve towards an Independent Power Producer model, boasting a global portfolio in development and construction exceeding 15 GW, including various renewable energy projects.
Sectors
- Renewable Energy
- Corporate Finance
Geography
- Italy – The solar projects and green financing deal are focused in northern Italy, making this the primary geography of the article.
- Europe – RIC Energy's operations and portfolio extend across Europe, indicating a broader geographic interest.
Industry
- Renewable Energy – This article is about RIC Energy's green financing and their solar photovoltaic projects, which fall under the renewable energy sector.
- Corporate Finance – The article discusses the structuring and negotiation of green financing, which involves corporate finance activities.
Financials
- €25.5 million – The total amount of green financing provided by Banco Santander for the solar projects in northern Italy.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| RIC Energy | Target | Company | RIC Energy is involved in developing solar photovoltaic projects and has secured green financing for new projects in Italy. |
| Banco Santander | Financing Provider | Company | Banco Santander provides the green financing for RIC Energy's solar projects. |
| SURE Sustainable Revolution | Debt Advisor | Company | SURE acts as the debt advisor for RIC Energy, helping with structuring and negotiating the green financing deal. |
| Bird & Bird | Legal Advisor | Company | Bird & Bird provides legal advice for the financing operation. |
| Praxi | Technical Consultant | Company | Praxi provides technical consultancy for RIC Energy's solar projects. |
| CECSE | Supporter | Company | CECSE supports the financing process facilitating the green finance initiative. |