First Italian green synthetic securitisation completed

First Italian green synthetic securitisation completed. A portfolio of 42 structured project finances for the construction of green plants transferred to the venture capital market worth €1.3 billion

Intesa Sanpaolo has completed the first synthetic securitisation in Italy totally dedicated to the green economy, transferring to the capital market the long-term risk of a portfolio of 42 project finances structured for the construction of wind (50% of the total), photovoltaic (40%) and biomass (10%) plants, for a total amount of €1.3 billion.

The clean energy generated by the green plants included in the securitised portfolio comes to approximately 7.2 GW, a capacity sufficient to meet the annual needs of 6 million households and to reduce CO2 emissions by an amount equivalent to that produced by 3 million cars.

The operation forms part of the Bank’s ACRM (Active Credit Risk Management) programme which, while maintaining loans already disbursed on the balance sheet, makes it possible to free up resources for new loans to businesses that focus on non-polluting energy sources. Intesa Sanpaolo will also have the possibility to include new green project finances in the securitised portfolio.

To date, Intesa Sanpaolo has carried out 23 transactions on over €35 billion portfolios at closing, confirming its position as one of the leading banks in the European synthetic securitisation market.