ERG Renew nails Italy finance

Developer ERG Renew has signed a financing agreement for its 34MW Palazzo San Gervasio wind farm located in the province of Potenza, southern Italy.

The €43m ($58.62m) financing for 17 years involves BNP Paribas, Credit Agricole CIB and Carispezia Credit Agricole.

The wind farm entered into operation during the first quarter of the year, with Vestas supplying 17 of its V100- 2MW turbines.

ERG Renew has more than 1GW of wind capacity installed in Italy, and has recently made its debut in the Polish market after signing an agreement with Vortex Energy for a 42MW wind farm in eastern Poland.