Ansaldo Energia, a leading designer, supplier, installer and service provider for power generation plants and components, in which Fondo Strategico Italiano and Shanghai Electric hold stakes of 44.8% and 40% respectively, has recently obtained funding worth 50 million euros, disbursed entirely by the European Investment Bank (EIB) and backed by a Cassa Depositi e Prestiti (CDP) guarantee amounting to 25 million euros.
The funding runs for seven years and will allow the company to support the main R&D projects at its Genoa production facility, addressed to fine-tuning existing technology used in gas turbine, steam turbine and alternator components. Gas turbine-related projects aim to extend the range of fuels that can be used, as well as to consolidate and develop innovative technology and solutions in the fields of materials, special hot path processes, combustion, reduced emissions and heat exchange.
The value of the operation has a powerful strategic component, making it possible to complete the process begun in 2015 to completely restructure the company’s debt.
The operation was devised and structured with contributions from Mittel Advisory Debt and Grant SpA.
Allen & Overy acted in the capacity of legal advisor to Ansaldo Energia.
Genoa, September 21, 2015