Tages Flash Gordon and Grape

Italy

EOS Consulting was in charge of assisting the pool in structuring the financing, acting as the Technical Advisor and carrying out the Technical Due Diligence activities on all of the installations in the portfolio.

Project
Tages Capital SGR, leading international investor in the renewable energy sector, completed an important refinancing operation for a portfolio consisting of 80 installations, with a total power of over 101.7 MW. The portfolio consists of the “Flash Gordon” asset, recently acquired by the fund Tages Helios by SECI S.p.A. – Gruppo Industriale Maccaferri (29 installations spread throughout Apulia, Sicily and Emilia Romagna, with a total power exceeding 46 MW), and the “Grape” asset (51 installations with a total power exceeding 55 MW), already part of the Tages group and already refinanced the year before. The operation included a pool of leading European Credit Institutions, which includes IMI Bank, BPM Bank, Santander Bank, Bayerische Landesbank, BNP Paribas, MedioCredito Italiano, MPS Capital Services Banca per le Imprese, Société Générale, Unione di Banche Italiane and Unicredit

Performed activity
EOS Consulting was in charge of assisting the pool in structuring the financing, acting as the Technical Advisor and carrying out the Technical Due Diligence activities on all of the installations in the portfolio. In particular, EOS updated the project’s analyses, with respect to what had already been analyzed in the previous refinancing operation, in which EOS had already acted as the Technical Consultant.
As part of this activity, EOS identified the production, revenue and operational cost assumptions, for the definition of the base case, analyzing the historical performance of each plant and the industrial strategy hypothesized by Tages for long-term operations.
EOS also verified the presence of eventual residual project risks and ensured the development of inspection activities carried out, or currently underway, by the GSE, relative to the correct attribution of rates incentives to each installation.