Intesa Sanpaolo in the financing of the largest solar park in the New York state

The image accompanying the News on the $870 million long-term facility for Greenbacker Renewable Energy Company, aimed at acquiring the design and supporting the construction and operation of Cider, New York State's largest solar photovoltaic park, portrays a technician carrying out checks in the middle of an expanse of photovoltaic panels

13 March 2025

Intesa Sanpaolo’s IMI Corporate & Investment Banking Division has participated in the financing of the Cider project, the largest solar photovoltaic park in the state of New York. This project includes:

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
the creation of hundreds of jobs dedicated to clean energy production in Genesee County.

Specifically, IMI CIB acted as Coordinating Lead Arranger, Bookrunner, and Co-Syndication Agent, structuring and partially underwriting, together with a pool of international banks, an $870 million long-term facility for Greenbacker Renewable Energy Company, Cider’s long-term owner-operator.

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.