Ortus Power Resources Italy and I Squared close a €100 million Holdco financing to build, own, and operate a 740MW portfolio of solar power plants in Italy
London, United Kingdom (UK), 30th September 2024 – Italian renewable energy developer Ortus Power Resources Italy (“OPRI”), a joint venture between Ortus Climate Mitigation LLC and Omnes Capital’s Capenergie 4 fund, announced today the successful financial close of up to €100 million bond issuance with I Squared Credit. The proceeds of the issuance will finance the construction of up to approximately 740MW of solar assets across Italy.
The initial commitment of €46 million, with the option to increase up to €100 million, will accelerate OPRI’s unparalleled growth and solidify its position as a leading independent power producer in the Italian renewable energy sector.
Guido Cuzzolin, CEO of OPRI said “The proceeds of this bond will drive the completion of development and construction to power up to 400,000 homes in Italy. This achievement is a direct result of the exceptional hard work and unwavering dedication of Ortus’ Italian team, whose remarkable efforts continue to deliver outstanding results and exemplify the commitment at the core of our success. In close collaboration with I Squared, we are pleased to achieve this important milestone for our company, a true testament to the strength of our partnership and our shared vision for growth within the renewable energy world.”
Akereos acted as sole bookrunner, structurer, and exclusive debt advisor to OPRI. Gianni & Origoni served as legal advisor to OPRI and Norton Rose Fulbright served as legal advisor to I Squared.
About Ortus
Ortus is an integrated renewable energy company committed to accelerating the decarbonization of the planet. Through our subsidiaries in Italy, Morocco and the UK, we have built dedicated teams to develop, build, finance and operate Solar, Wind and Storage assets, including Green Hydrogen. Together with our investors, we are determined to deliver sustainable solutions that benefit both people and the planet. You can find out more by visiting: www.ortusitaly.com
About I Squared
I Squared is a leading independent global infrastructure investor with over $40 billion in assets under management. We are known for the development of investment platforms in infrastructure projects where we start small and grow big. We use global insights and deep local intelligence to solve complex problems, foster smarter businesses, serve local communities, and invest in a more sustainable future to provide essential services to millions of people around the world.
We are a team of over 280 people, headquartered in Miami with offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney and Taipei. We operate a diverse portfolio of 86 companies in more than 70 countries with over 66,000 employees in a variety of sectors including utilities, energy, digital infrastructure, transport, environmental infrastructure, and social infrastructure. You can find out more by visiting: www.isquaredcapital.com
Disclaimer This press release contains projections and pro forma financial information based upon assumptions which are inherently uncertain and unpredictable. Actual results may differ materially from those discussed in, or implied by, the statements in this press release. This press release and any projections or pro forma information contained herein represent only our management’s current estimates as of the date of this release and have not been subject to independent audit. We assume no duty to update the information contained in this press release. We make no representation or warranty as to the accuracy or completeness of the information contained in this press release.