UBS Infrastructure Debt Fund’s Financing Of Distressed Renewable Energy Receivables


Ashurst advised the UBS Infrastructure Debt Fund on the financing of the acquisition of a portfolio of distressed loans, deriving from project financing and financial lease agreements in the photovoltaic sector, by WRM Group from MedioCredito Italiano.

This is the largest, and one of the first distressed solar loan acquisitions in Italy, with a nominal value of approximately €180 million and involving 74 photovoltaic plants with a total capacity of over 85MW.

Ashurst advised UBS, which acted through Archmore IDP II Sub-Fund I Holding II S.à r.l.

The Ashurst cross border team was led by partner Carloandrea Meacci (Picture), and included counsel Annalisa Santini for all aspects regarding the structured finance, senior associate Nicola Toscano for the financing, counsel Fabio Balza assisted with tax matters, and partner Elena Giuffrè with administrative law. The London team included partners Derwin Jenkinson and Tom Picton, assisted by associate Kavisha Bilimoria. In Luxembourg, partners Isabelle Lentz and Georges Simon, counsel Paul Witte and associate Yves-Marie Persin advised.

Involved fees earner: Fabio Balza – Ashurst; Kavisha Bilimoria – Ashurst; Elena Giuffrè – Ashurst; Derwin Jenkinson – Ashurst; Isabelle Lentz – Ashurst; Carloandrea Meacci – Ashurst; Yves-Marie Persin – Ashurst; Thomas Picton – Ashurst; Annalisa Santini – Ashurst; Georges Simon – Ashurst; Nicola Toscano – Ashurst; Paul Witte – Ashurst;

Law Firms: Ashurst;

Clients: UBS AG;