DLA Piper advises lenders on BESS project

DLA Piper has announced its advisory role to a consortium of lenders, including ABN AMRO, BayernLB, CIBC, Nord/LB, and Siemens Bank, on a groundbreaking project financing for Aer Soléir's flagship Rondissone 250 MW 1 GWh Battery Energy Storage System (BESS) located in the Italian province of Piedmont. This ambitious project is distinguished as one of Italy's largest battery storage initiatives currently under construction and is expected to commence commercial operations in the fourth quarter of 2027.

The Rondissone project received a 15-year Capacity Market Contract from the Italian Government in the first quarter of 2025 and also benefits from a fixed toll arrangement with EGO Energy S.r.l., a direct subsidiary of Shell Italia Holding S.P.A. A diverse team comprising professionals from DLA Piper's offices across the UK, Ireland, Italy, and the Netherlands orchestrated the transaction, led by Nikhil Markanday, a Project Finance partner based in London. Markanday expressed the project's significance, stating, "This transaction marks a significant milestone in the deployment of flexible energy infrastructure across Europe and we congratulate Aer Soleir and the lender group for bringing this project to financial close."

DLA Piper's International Projects team has been highly active in renewable energy matters recently. Their work includes advising Société Générale S.A. on a pioneering Finnish BESS project and consulting with Amber Infrastructure and La Caisse regarding investments in Sizewell C, the UK's notable 3.2GW nuclear power station. Additionally, they have assisted Afreximbank with a substantial USD450 million facility for ARISE Integrated Industrial Platforms and special economic zones expansion and provided counsel on significant financial undertakings for Genser Energy Ghana Limited, a EUR600 million financing for a Finnish wind farm, as well as a 4.5GW Battery Energy Storage System pipeline in Germany.

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