post-fallback-image-2

PSL Secures €120M bilateral financing with Infranity for the construction of 178 MW portfolio of solar PV assets in Italy

Peridot Solar Limited (PSL) a subsidiary of FitzWalter Capital Limited (FWC) has successfully secured with Infranity €120M bilateral financing for the construction of 7 solar PV assets for a total capacity of 178 MW portfolio in Italy. 

This agreement is a significant milestone for PSL’s ambitions to reach 5GW of renewable energy capacity across Europe by 2026.

To close this agreement PSL counted with the support of IDCM Limited (Financial Advisor), EOS Consulting (Technical Advisor), Weil, Gotshal & Manges for the UK legal requirements, while Legance and Parola Angelini advised PSL on the Italian legal regulations of the transaction. 

Massimo Sapienza, Managing Director at Peridot Solar Limited stated: This Infranity financing agreement is a significant milestone in PSL’s history and the broader Italian solar PV market. Especially given its innovative structure in a highly competitive market. The Italian solar industry continues to show significant development and consolidation as a key contributor to Europe’s ambitious green energy agenda. With this deal PSL continues to strengthen its strong financial position in the Italian solar PV sector. PSL would like to thank all PSL, Infranity & supporting advisor team members for their hard work and dedication over the last 12 months to make this deal possible”. 

Sacha Kamp, Investment Managing Director at Infranity stated: “We are very pleased to partner with the experienced PSL team and its shareholder, FitzWalter Capital Limited, by providing financing to a portfolio of greenfield solar PV assets in Italy. In light of the EU’s commitment to be carbon neutral by 2050, the capital needs to finance the energy transition in Europe are substantial and Infranity is actively contributing through investments in high-quality and long-term positive impact infrastructure assets. We are looking at many more renewable energy investment opportunities across Europe.” 

About PSL 

PSL is a solar PV development company that has been founded by a senior management team with over 100 years of combined renewable experience. PSL has offices in London, Milan and Catania, with a team of 30 people focused on development, construction and operation of solar PV across Europe. PSL has over 1.5GW of projects in Italy and the UK with ambitions to develop and build 5GW by 2026. 

PSL is a subsidiary of FitzWalter Capital, a global private investment firm.

Career
Would you like to work with us?
We are always looking for talented people to join our dynamic and international team.

Responsibilities

  • Being responsible for the execution of the projects from RTB to NTP until final COD;
  • Manage and coordinate duties related to planning, assist management in issuing requests for pricing, performing competitive reviews, and purchasing or contracting of BOS materials and services;
  • Ensure cost competitiveness, on-time delivery and product quality;
  • Ensure construction projects are completed on time and on budget from start to finish according to schedule, specifications and budget;
  • Prepare project status updates report for management and external stakeholders;
  • Track and report planning (permitting) status and liaise with consultants accordingly;
  • Liaise with the development teams in permitting development, providing construction insight to ensure early identification of risks and identifying and proposing solutions;
  • Report to the Technical Director on all aspects of development and construction of projects;
  • Liaise with sub-contractors and EPC contractors in order to deliver the projects according to the time schedule and budget;
  • Develop project execution plans and related documents tracking and report on monthly KPI’s;
  • Conduct due diligence for solar project opportunities from a technical perspective;
  • Oversee project execution to ensure that all the systems are installed exactly, according to plan and that there are no technical installation errors committed that would decrease system performance or lifespan or cause potential system failure;
  • Liaise with local authorities and local DSO/TSO (IEC) for managing and solving issues in regards of the interconnection to the grid;
  • Develop best practices and tools for project execution and management;
  • Monitor the status of the project to ensure documentation is submitted according to schedule;
  • Review and verify project documents for completeness, format and compliance with contracts;
  • Ensure that all business activities are performed with the highest ethical standards;

Skills

  • BS in Engineering (Electrical, Civil, or Mechanical) preferred;
  • Minimum 5+ years’ experience in the Project Management field;
  • Strong understanding of PV system design, including the proper usage of basic components and conventional installation and interconnection methods;

Languages

  • Native in Italian
  • Good knowledge of English

Responsibilities

  • Ensure project engineering activities comply with company and contract requirements and support overall project schedule
  • Help project team to develop specifications to optimize PV plant design including component selection, module string sizing, layout design, collector routing design, conductor sizing, etc.
  • Provide analysis using GIS software (QGIS), cadastral analyses and spatial database management. 
  • Create PV Plant Layouts for utility-scale solar projects using AutoCAD or PVSyst
  • Carry out energy yields and solar resource assessments
  • Interface with Project Manager and Project Superintendents necessary to review constructability of design with the goal of meeting quality, cost, and schedule commitments.
  • Review preliminary solar plant layouts from contractor for compliance with contractual requirement in regard to shading, drainage, collector losses, long term maintenance and constructability
  • Interface with all the other functions as required in the establishment of project schedules and resolving schedule problems
  • Manage third party consultants assigned to preform design review
  • Represent the engineering department during bid process, project scope development, client meetings and project management meetings

Education / Training:

  • Bachelor’s degree or above in Environmental / Civil / Mechanical Engineering or similar

Competencies:

  • Experience with PVSyst, PVsol, AutoCAD, MATLAB, QGIS
  • Ability to communicate clearly and concisely, both orally and in writing
  • Ability to conduct independent research and analysis
  • Ability to make effective presentations
  • Ability to travel to project sites for monitoring when necessary

Languages:

  • Good knowledge of English

Miscellanea:

  • Possibility to work remotely

Responsibilities

  • Closely work with the Business Development Director and with the project development team to originate and execute pipeline of solar projects across the Italian market,
  • Liaise with public authorities and local governmental entities to complete and finalize the permitting phase of the project’s portfolio;
  • Identify local developers and engage good relationships with them with the aim to finalize co-development agreement and partnerships;
  • Manage legal and technical due diligence process;
  • Manage inputs for economic modelling, including Capex, Opex, yield, grid costs, development costs, contracted revenue, power price, etc;
  • Manage negotiation of existing and new project development agreements with partners;
  • Explore and pursue opportunities to expand pipeline of projects with new partners;
  • Closely follow day to day activities related to the projects originated and support the team through the permitting phase of the pipeline;
  • Work with cross function teams, including legal, finance, engineering, asset management, etc;
  • Ensure partners comply with HSSE and ethics and other required compliance standards;
  • Monitor and report on the performance of opportunities to different internal audiences;
  • Focus on the delivery of top project options in the portfolio;
  • Manage interconnection and permitting process of projects;
  • Ensure proper project management for key projects by assuring that land, grid, permitting, local stakeholders and EPC are delivered on-time and on-budget;
  • Work with engineering team and external advisors to ensure projects meet the technical standards;
  • Work closely with finance advisors to ensure projects meet the company’s economic hurdles;
  • Support EPC manager to get individual projects from NTP and COD.
  • Closes new business deals by coordinating requirements; developing and negotiating contracts; integrating contract requirements with business operations;
  • Compiles advisory reports and make informed recommendations on new investment opportunities that could enhance or diversify portfolios;
  • Monitors closely energy press and keep a track of market trends, opportunities, risks and new investment

Skills

  • Bachelor’s degree in related engineering, law, economics or similar
  • Minimum 4 years’ experience in PV
  • Demonstrated track record of PV plants origination
  • Solid and effective interpersonal and communication skills (including oral, written, and visual)
  • Strong organizational and time management skills; the ability to multi-task and meet deadlines
  • Technical proficiency in Microsoft Office Suite, including Word, Excel, and Microsoft Projects
  • Accuracy and attention to detail.
  • Ability to establish and maintain effective working relationships internally and externally with staff, management, volunteers, clients, suppliers, community partners and external stakeholders
  • Ability to function successfully both independently and within a team

Languages

  • Native in Italian

Good knowledge of English

Responsibilities

  • Working with the Head of Legal Development in day-to-day business for all legal affairs involving our Italian solar project pipeline,
  • Supporting the legal department in respect of project finance, transactional and commercial contracts, employment law, EU legal compliance, environmental, real estate, etc.,
  • Working with the legal team in drafting and structuring SPAs, co-development agreement, EPC contracts, O&M contracts,
  • Supporting in the negotiation and drafting of distribution and supply agreements, sales agreements, share purchase agreements, joint venture agreements, shareholders’ agreements, loan agreements, connection agreements, EPC (including the relevant subcontracting agreements), O&M etc.,
  • Support the Business Development team with land lease contracts execution,
  • Being directly involved in M&A transaction in relation to PV projects pipeline acquisition (from pure greenfield till RTB and NTP projects),
  • Liaising closely with regulators, customers, counterparties and other colleagues

Position Requirements:

  • Minimum 2 years of experience gained as a transactional attorney from top law firm or in-house legal department,
  • Strong academic qualifications including a law degree from a renowned law school or comparable,
  • Excellent communication and interpersonal skills,
  • Strong project management and analytical skills,
  • Demonstrated intercultural and problem-solving skills,
  • Willingness to travel 

Education / Training:

  • Bachelor’s degree or above in Law

Languages:

  • Good knowledge of English

Miscellanea:

Possibility to work remotely