The Imi - Corporate & Investment Banking Division of Intesa Sanpaolo, led by Mauro Micillo , has structured and partially underwritten, together with a pool of international banks, a long-term loan of 870 million dollars for Greenbacker Renewable Energy Company, aimed at the acquisition of the project and support for the construction and management of Cider, the largest photovoltaic solar park in the State of New York.

The Cider Solar Farm will have a capacity of 500 MWac or 674 MWdc, will be able to supply energy to more than 120,000 medium-sized households and will create hundreds of clean energy jobs in Genesee County.

The transaction, in which Intesa Sanpaolo acted as Coordinating Lead Arranger, Bookrunner and Co-Syndication Agent, further strengthens the role of the leading Italian bank, led by CEO Carlo Messina , in the US renewable energy market. In the sector, Intesa Sanpaolo has already taken part in some of the most significant structured financings of recent years, such as the one for the construction of the SunZia project between New Mexico and Arizona, the largest infrastructure for the production and transport of clean energy in the Western Hemisphere.

Greenbacker, the long-term owner and operator of Cider, specializes in clean renewable energy production and management of investments focused on the energy transition in the United States. The company acquired the Cider project from Hecate Energy, one of the largest American developers of renewable energy.

“We are proud to reaffirm our position in the green economy as a key player in a major energy transition deal in the United States, where we have extensive experience and a strong track record in the sector,” said Nicola Doninelli , Head of Distribution Platforms & Gtb of the Imi - Corporate & Investment Banking Division of Intesa Sanpaolo. “Our Structured Finance team at the New York Branch has successfully closed several high-profile financings for sustainable energy and infrastructure in the United States, Canada and Latin America in recent years, further consolidating our role as an Impact Bank.”