INTESA SANPAOLO TO FINANCE SUNZIA, THE U.S.’ LARGEST-EVER GREEN ENERGY INFRASTRUCTURE

• Intesa Sanpaolo’s IMI Corporate & Investment Banking Division is Initial Coordinating Lead Arranger, Joint Bookrunner, Hedging Provider and Co-Green Loan Structuring Agent of the transaction.
  
• SunZia entails the construction in New Mexico of the largest wind farm in the Western Hemisphere together with a dedicated high-voltage power line that will run 550 miles (885 km) between New Mexico and Arizona.
  
• Mauro Micillo: “Leveraging our considerable international experience in project financing and our significant participation in the green loan facility – which Intesa Sanpaolo structured for SunZia with other leading financial institutions – this transaction underlines our support to the renewable energy sector in the U.S. and globally.”
  

Milan, 22 January 2024 - Intesa Sanpaolo's IMI Corporate & Investment Banking Division (IMI CIB) has structured and partially underwritten a green credit facility of up to $8.8 billion for the construction of SunZia, the largest-ever green energy infrastructure in the United States, which will be built to produce wind power and transport clean electricity from New Mexico to Arizona and California.

The transaction was structured by a pool of international banks, including Intesa Sanpaolo through its IMI CIB Division. IMI CIB acted as Initial Coordinating Lead Arranger, Joint Bookrunner and Co-Green Loan Structuring Agent, as well as provider of hedging solutions.

SunZia plans to build in New Mexico the largest wind farm in the Western Hemisphere, with a capacity of 3.5 GW together with a dedicated 550-mile (885 km) high-voltage power line between New Mexico and Arizona, capable of transporting 3 GW of clean, safe and affordable electricity to millions of Americans in the Western United States. The infrastructure is an important piece in the overall U.S. public and private investment plan toward the progressive reduction of carbon emissions.

The SunZia project is being developed by Pattern Energy, one of the world's largest developers and private operators of wind, solar, transmission and energy storage projects, with an operating capacity of nearly 6 GW across North America and 25 GW in development.

“We are pleased to support Pattern Energy and its shareholders, Canada’s CPP Investments - one of the world's largest pension funds with an excellent track record in developing, building and operating strategic infrastructure -  and Riverstone Holdings, a leading private markets asset manager primarily investing in energy, power and infrastructure” – said Mauro Micillo, Chief of Intesa Sanpaolo's IMI Corporate & Investment Banking Division. “Leveraging our significant international experience in project financing and our sizeable participation in the green loan facility – which Intesa Sanpaolo structured for SunZia with other leading financial institutions – this transaction underlines our support to the renewable energy sector in the United States and globally.”

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Media Relations

Intesa Sanpaolo

Corporate & Investment Banking and Governance Areas

stampa@intesasanpaolo.com