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Deals & Cases
27 Jul 2026

ADVANT Nctm and Green Horse Advise on AlpiCapital Acquisition of 39.234 MWp Photovoltaic Portfolio

"ADVANT Nctm advised Nankurunaisa (Gruppo Undo) and Green Horse Legal Advisory, with Green Horse Financial Advisory as financial advisor, advised AlpiCapital on the acquisition of a 26-plant photovoltaic portfolio totalling 39.234 MWp across Italy. L&B Partners, Bettoni Mameli STP, Sansegolo & Partners STA and notary Gianluca Sbardella also took part."

ADVANT Nctm advised Nankurunaisa, a company controlled by Gruppo Undo, while Green Horse Legal Advisory advised AlpiCapital. Green Horse Financial Advisory acted as financial advisor to AlpiCapital in the transaction. The transaction concerns the acquisition of a photovoltaic portfolio made up of 26 operational plants located across several Italian regions, with a total capacity of 39.234 MWp. Eight of the plants benefit from incentivised tariffs and eight are configured as, or attributable to, a Renewable Energy Community (Comunità Energetica Rinnovabile, CER). ADVANT Nctm's Energy and Infrastructure department represented Nankurunaisa with a team composed by: partners Giovanni Battista De Luca (responsible for legal due diligence of the photovoltaic plants and related administrative matters) and Piero Viganò (responsible for drafting and negotiating the acquisition contracts), counsel Giuliano Proietto and associate Gianluca Zampieri. For the portfolio due diligence ADVANT Nctm also engaged managing associates Lorenzo Piscitelli and Matteo Spitella, senior associate Edoardo Simonetti and associates Ludovica Petrucci and Elisa Tunno. The firm also supported the parties on the financing for the acquisition and the refinancing of the related bank debt with a team led by Eugenio Siragusa and composed of Fabio Rastelli, managing associate, and Andrea Corona, associate. Green Horse Legal Advisory represented AlpiCapital with a team composed by: partners Carlo Montella and Simonetta Formentini, associate Niccolò Casartelli and junior associate Sara Ludovica Pagano, who managed the negotiation of the sale contracts and the related legal aspects. Green Horse Financial Advisory acted as financial advisor to AlpiCapital with a team composed by Domenico Vinci, funding partner, and Amleto Monsellato, vice president, assisted by Bettoni Mameli STP with Francesco Bettoni, CEO and partner, and Andrea Ferrante, senior. L&B Partners Avvocati Associati acted as tax advisor for the tax due diligence and analyses of the tax aspects of the transaction with a team composed by partner Grazia Carbone, senior associate Luigi Colucci and junior associate Andrea Zamparese. Sansegolo & Partners STA contributed to the transaction through Francesco Sansegolo and Livia Schiantarelli. Notarial aspects were handled by notary Gianluca Sbardella of Rome.
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