First Reserve lines up banks to invest €276m for Rovigo solar

First Reserve, through its joint venture (JV) with Rovigo developer SunEdison, acquired the project from SunEdison in September.

SunEdison is a minority partner in the JV, formed in May 2010 to invest in SunEdison projects and allow the company to pursue larger developments without capital constraints. SunEdison had in the past organised its own debt to finance projects, which sometimes meant limiting their size.