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Deals & Cases
23 Sep 2026

Bird & Bird and Lexia Advise on €24.6 Million Solar Portfolio Acquisition and Refinancing

"Bird & Bird advised Banco BPM and Lexia advised Solar Team Italia S.r.l. on a €24.6 million financing by Banco BPM enabling Solar Team Italia to acquire nine project companies managing 27.2 MW of photovoltaic capacity and to refinance related indebtedness. The deal also involved restructuring documentation related to the seller Solar Investment Group B.V.’s indebtedness to UniCredit."

Bird & Bird acted as legal advisor to Banco BPM, while LEXIA advised Solar Team Italia S.r.l. in the acquisition and refinancing transaction. The financing provided by Banco BPM amounted to €24,600,000 and enabled Solar Team Italia S.r.l. to acquire the share capital of nine project companies that together operate photovoltaic plants with a total capacity of 27.2 MW. The facility also permitted the refinancing of the related financial indebtedness. Concurrently, the transaction included amendments to the corporate structure and to the financial documentation governing the existing indebtedness of the seller, Solar Investment Group B.V., towards UniCredit. These changes were necessary because the financings relating to the project companies not acquired by Solar Team Italia S.r.l. remained in place. Bird & Bird represented client Banco BPM with a team composed by: partner Pierpaolo Mastromarini (head of the Energy & Utilities & Infrastructure department), associate and project manager Francesco Bianco (coordinator of the first team), associate Da Sol Choi (support), associate and project manager Vincenzo Giorgio (coordinator of the second team), trainee Samuel Tassetti (support), partner Simone Cadeddu (administrative law), counsel Jacopo Nardelli (administrative law), associates Massimiliano Castriconi and Francesca Lalli, and trainee Giulia Serio. LEXIA represented client Solar Team Italia S.r.l. with a multidisciplinary team composed by: partner Cristian Fischetti and counsel Nicola Biagioli, assisted by associate Matteo Stroppa for the finance documentation and negotiation; managing partner Francesco Dagnino and partner Fabio Luongo, assisted by senior associate Andrea Peruzzo and associate Elisa Adly for other aspects of the transaction. The notarial aspects were handled by notary Luigi Cecala of Milan.
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