Eoxis Receives Loan From ING for Two Sun-Power Plants in Italy
Eoxis U.K. Ltd., a renewable-energy investor backed by private equity firm Platina Partners LLP, received a 21.5 million euro ($28 million) loan from ING Groep NV (INGA) to finance two solar parks in Italy.
The plants, in Puglia and Campania, have a combined capacity of 9.45 megawatts, the London-based company said today in an e-mailed statement. Eoxis bought them last year, and they were connected to the grid in 2011.
The non-recourse, or secured, loan has a term of 9 1/2 years, according to the statement. The company declined to provide any further details of the transaction. Solar photovoltaic technology provides about 5 percent of Italy’s electricity demand, according to the European Photovoltaic Industry Association.
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