Green Giraffe was mandated by a consortium of Solvay and Marubeni on the non-recourse financing of the energy-efficient revamping of the power generation facilities of Rosignano, a Solvay industrial site. Debt was provided by MUFG. The partners, together with Ansaldo Energia will finance and operate a new state-of- the-art gas turbine sized 180MW and a repowered plant with a total capacity of 350MW of electrical power and total steam production capacity of 410t/h. The project will help reduce energy consumption and the environmental impact of Solvay’s industrial site while enhancing the plants’ competitiveness.
Green Giraffe was mandated in February 2017 by the sponsors to assist in the debt raising process (including preparation of the financing package and negotiation of the financing documentation), modelling, contract review and due diligence management.
The Rosignano project is a follow-up of the Eeco energy-efficiency project closed last year (to fund similar energy-efficient refurbishments on other Solvay plants) and used the same set of advisors, including Mott Macdonald as the lender’s technical advisor, HSF and NCTM as sponsors’ legal advisors, DPBM and Legance as the lender’s legal advisor, and Marsh as insurance advisor.