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UNDO Group closes €33 million project financing with Unicredit and MPS (Finance Republic)

SunBersker, a company of the Undo Industrial Group, which is active in the renewable energy sector, has successfully closed a project financing of more than 33 million euros provided by MPS Capital Servicies Banca per le Imprese and UniCredit.


The re-financing deal called Project Ahsoka Tano is aimed at refinancing the Italian photovoltaic portfolio, which consists of 39 plants, and at the same time will secure a new cash injection that will lead to new acquisitions and investments envisaged in the business plan. with equal shares, as Mandated Lead Arrangers, Lenders and Hedging Bank. Under the financing, MPSCS also plays the role of Agent Bank, while UniCredit will also act in the role of Account Bank.

All 39 PV plants involved are already operational, connected to the grid and with significant geographical diversification. These plants are operated by 19 SPVs and have a total capacity of 15.5 MW, useful to serve about 7,275 households, with CO2 savings of more than 12,768 thousand tons per year.

“Never before has the clean energy sector been more of a strategic asset than at this time in history, also due (and unfortunately) to the ongoing war between Ukraine and Russia, exacerbating energy supply issues,” state Umberto Deodati, CEO and co-founder of the Group along with Giuseppe Monaco e Daniele Pistoia.

“UniCredit has structured this transaction with a leading operator in the sector, which has been working with foresight for years in the construction and operation of power plants from renewable sources,” says Roberto Fiorini, Regional Manager Centre of UniCredit, adding “this intervention is meant to be further concrete proof of our attention to the issue of sustainability and the demands of companies investing in that direction.”

The UNDO Group has been active since 2008 in the construction, acquisition and operation of renewable energy production facilities throughout Italy. now has 80 plants across the country (photovoltaic and wind power plants with a capacity of more than 40 MWp). As of 2019, UNDO is also part of the Italian Stock Exchange’s Elite program.