Banco di Napoli (Intesa Sanpaolo Group) has provided a €10 million loan to Desag Ecology S.c.a.r.l., a subsidiary of De Vizia Transfer SpA, for the development of a waste-to-energy PPP project in the municipality of Codroipo, Italy.
Law firm Bonelli Erede Pappalardo has assisted the financer in this transaction.
The new waste-to-energy plant will have a total capacity of 40,000 tons per year. It is expected that the new facility will be able to produce about 7 million KW of electricity per year.
The project involves the construction, finance, operation and maintenance of the new facility for a period of 20 years. De Vizia Transfer SpA has already started construction works. The firm will also be responsible for the operation and maintenance of the plant during the 20-year contract.
The total investment is estimated at €18 million. The new facility is expected to be fully operational by early 2015.
Codroipo is a comune in the Province of Udine in the Italian region Friuli-Venezia Giulia, located about 70 kilometres northwest of Trieste and about 20 kilometres southwest of Udine.