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06 Jul 2026

BonelliErede and DWF in €172 Million Financing for Qualitas Energy

"BonelliErede advised Qualitas Energy on a non‑recourse financing of approximately €172 million to build and develop a 156 MWp greenfield photovoltaic portfolio in Italy. DWF represented the lending bank pool comprising CaixaBank Succursale in Italy, DekaBank Deutsche Girozentrale, La Banque Postale and UniCredit."

BonelliErede advised Qualitas Energy, while DWF represented the lending bank pool composed of CaixaBank Succursale in Italy, DekaBank Deutsche Girozentrale, La Banque Postale and UniCredit. Qualitas Energy obtained a non‑recourse financing of approximately €172 million to fund the construction and development of a greenfield portfolio of photovoltaic plants totalling 156 MWp in Italy. The portfolio, owned by Qualitas Energy, comprises 15 photovoltaic assets located across different regions of the country. The financing was provided by an international banking syndicate formed by CaixaBank Succursale in Italy, DekaBank Deutsche Girozentrale, La Banque Postale and UniCredit. BonelliErede represented Qualitas Energy with a team composed by: partner Gabriele Malgeri, who led the multidisciplinary team as part of the Focus Team Infrastructure, Energy and Ecological Transition; senior associate Luigi Mazzola, acting as project manager, and Camilla Orsi, who handled negotiation and review of the financing documentation; partner Giovanna Zagaria and associate Elisa De Giuli, responsible for administrative and regulatory matters; partner Marco Adda, supported by senior associate Giovanni Bisleri on tax issues; and associate Alessandro Nicolini, who handled hedging contract matters. DWF represented CaixaBank Succursale in Italy, DekaBank Deutsche Girozentrale, La Banque Postale and UniCredit with a multidisciplinary Energy department team composed by: partners Michele Cicchetti and Guglielmo Fabbricatore (coordinating the department); counsel Giuseppe Candela and counsel Alberto Castelli and associate Virginia Giorgi, who covered all banking and finance aspects of the transaction; partner Tancredi Marino and associate Sara Massaro, who followed tax matters; counsel Claudia Laterza, who handled authorisation and regulatory aspects; and counsel Francesca Leo and associate Alberto Agresti, who dealt with corporate and real estate matters. Qualitas Energy's in‑house legal team represented Qualitas Energy with a team composed by: Elena Motta and Carlo Serranò.
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