INTESA SANPAOLO WITH MYTILINEOS FOR THE DEVELOPMENT OF SOLAR PARKS IN CHILE

• IMI Corporate & Investment Banking Division subscribed part of the $315 million total financing, together with a pool of international banks.
• MYTILINEOS plans to build four solar parks in Chile capable of generating 1.6 TWh of renewable energy a year, thus reducing carbon dioxide emissions by more than 600,000 tonnes.
• Nicola Doninelli: “We have a long tradition in project financing and aim to increase our investments in the Americas, particularly in the sustainable infrastructure space.”
  

Milan, 27 March 2024 – Intesa Sanpaolo's IMI Corporate & Investment Banking Division (IMI CIB) – led by Mauro Micillo – has subscribed part of a credit line of up to $315 million for MYTILINEOS, a Greece-based company that builds and develops renewable energy projects, for the construction of four solar parks in Chile with a total capacity of 588 MW.

The transaction was structured by a pool of international banks – including Intesa Sanpaolo, through its IMI CIB Division – and is part of MYTILINEOS’ global renewable infrastructure development strategy that extends to Chile, a fast-growing market in the energy sector thanks to an ample supply of natural resources and ambitious decarbonisation targets.

The portfolio, acquired between 2020 and 2021, includes:

-       the four photovoltaic parks of Willka, inaugurated in 2023, that represent the largest investment of foreign capital in the region;

-       Doña Antonia, which will come on line in early 2024;

-       Tocopilla and Tamarico, which are scheduled to come on line in the second half of 2024.

Once implemented, the four projects will generate approximately 1.6 terrawatt-hours (TWh) of clean energy a year, reducing carbon dioxide emissions by more than 600,000 tonnes on an annual basis.

“Intesa Sanpaolo, through its IMI CIB Division, has always been at the top in project financing. We are pleased to support MYTILINEOS in its fifth international solar park, a project that further strengthens the company’s leadership in the sector,” commented Nicola Doninelli, Head of Distribution Platforms & GTB at IMI Corporate & Investment Banking Division. “We have a long tradition in project financing and aim to increase our investments in the Americas, particularly in the sustainable infrastructure space. Our involvement in this financing underscores our continued commitment to supporting the renewable energy sector globally.  It is amongst the several highly visible transactions recently financed by Intesa Sanpaolo across North and South America”.

Participation in the MYTILINEOS transaction is part of IMI CIB Division’s international business development strategy, as envisaged in the 2022-2025 Business Plan of the group led by CEO Carlo Messina, and follows those already announced in:

-       New Mexico, for the construction of the largest green energy infrastructure in the United States;

-       Brazil, for the construction of São Paulo’s metro line 6;

-       New York, for the new Terminal 1 at JFK airport;

-       Miami, for the construction of the largest cruise terminal in the United States.

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Media Relations

Intesa Sanpaolo

Corporate & Investment Banking and Governance Areas

international.media@intesasanpaolo.com