Financing the largest solar park in the New York state

Intesa Sanpaolo’s IMI Corporate & Investment Banking Division, through its New York branch, participated in the pool financing of the largest solar park in the New York state (Cider project).

The Division acted as Coordinating Lead Arranger, Bookrunner, and Co-Syndication Agent, structuring and partially underwriting a USD 870M long-term facility for Greenbacker Renewable Energy Company, Cider’s long-term owner-operator.

The Cider project will led to the construction of a solar plant with a capacity of 500 MWac or 674 MWdc, set to provide energy to over 120,000 medium-sized homes and to the creation of hundreds of jobs dedicated to clean energy production in Genesee County.

This operation further strengthens the role of Intesa Sanpaolo in the renewable energy market. The bank has already participated in several significant financings in the sector, including the one for the SunZia project between New Mexico and Arizona, the largest clean energy production and transmission infrastructure in the Western Hemisphere.