Building Energy and Three Hills Capital Partners signed an agreement for underwriting a bond totalling €30 million. The bond is listed on the MTF, which is managed by the BorsaItaliana in the professional segment ExtraMot Pro. The issuing of the bond is to be structured with support from Intermonte SIM, and is expected to be paid back after five years from the time of issuance. The international fund, which is specialised in partnering with successful management teams in their growth projects, will also have a non-controlling interest in the group. The entire investment will be used to support a strategic industrial plan that in the next two years foresees the construction of plants for producing energy from renewable sources. This is to take place on a global scale for a total of more than 430 MW to be in operation starting in the year 2017. Building Energy is an independent energy producer working with renewable sources on four continents, including Africa. The company over the past few months has won awards in both South Africa and Egypt. In South Africa the company was the first Italian IPP to be developing projects across four different renewable energy technologies with an award from the South African DoE’s REIPPP as a preferred bidder. The company was awarded preferred bidder status for a wind and a mini-hydro project in the fourth round of REIPPP; it had already been awarded a solar farm project and a biomass project in South Africa as a result of the first and third rounds of the REIPPP. In Egypt the company signed a MoU with Egypt’s New & Renewable Energy Authority (NREA) for two, 50-MW PV plants in Upper Egypt. The plants will be located in Benban and are expected to generate around 143 GWh per year. Construction will start in mid-2016 and will last 12 months.
