Windrose Holding, a Whysol Group company that indirectly holds and manages a portfolio of wind and solar assets in Italy, has completed a holdco project financing transaction of approximately €118 million (~$134 million) for wind and solar projects totaling approximately 157 MW.

The green loan will refinance and optimize the portfolio’s operational and financial structure.

Intesa Sanpaolo, through its IMI Corporate & Investment Banking Division, Banco BPM, BPER Corporate & Investment Banking, and ING Bank Milan Branch provided the financing.

The lenders will also serve as green loan coordinators and hedging counterparties for interest rate swaps that Windrose Holding plans to enter. Intesa Sanpaolo will also act as the agent bank. The interest rate swaps will provide partial protection against interest rate changes associated with the financing.

According to the announcement, the interest rate swaps will provide partial protection against interest rate changes associated with the financing. The financing includes a merchant risk component after incentives expire and combines wind and solar assets in a single portfolio.

L&B Partners Avvocati Associati advised Whysol on the financing documentation, with Pietro Paolo D’Ippolito leading the team alongside Bianca Tomassetti and Beatrice Mascardi.

FIVERS Studio Legale e Tributario advised the lenders on the financing documentation, led by Maria Teresa Solaro with Marco Balzano, Andrea Oddo, and Maria Rita Di Mauro.

PedersoliGattai handled legal due diligence for the lenders, led by Valeria Viti, Nicola Gaglione, and Nicola Martegani.

Arcus Financial Advisors served as Whysol’s exclusive financial advisor, led by Stefano Cassella. Vector Renewables acted as technical advisor to the lenders, led by Luca Radaelli. Studio ZNR Notai handled the notarial aspects related to signing the financing documentation.

Announced large-scale solar project funding increased by 71% in the first half of 2026 compared with the funding raised in the same period in 2025, according to Mercom’s 1H and Q2 2026 Solar Funding and M&A report.

In August, Invenergy, a privately held independent power producer and developer of energy infrastructure projects in North America, secured a $215 million tax equity investment through a Crux-managed vehicle for its 240 MW Pleasant Prairie Solar Energy Center in Franklin County, Ohio.