(Alliance News) - UniCredit Spa on Tuesday announced that it has finalized a EUR50.5 million green loan project financing with SACE guarantee in favor of GR Value Assets Srl, a holding company wholly owned by GR Value Spa, which owns the special purpose vehicle GR Value Ferrandina Srl.

The loan, which is certified green under the Green Loan Principles and benefits from EIB funds dedicated to energy transition and the SACE guarantee for works of strategic importance, is aimed at supporting the construction and commissioning costs of a renewable energy production wind farm located in Basilicata, the company explained in a note.

The plant has a total installed capacity of 32 MW and an expected annual production of about 72 GWh, capable of covering the annual energy needs of about 71,000 people.

In addition, once in operation, it will avoid climate-changing emissions of more than 52,000 tons of CO? equivalents per year, which considering a useful life of the plant itself of about 30 years, will correspond to a saving of more than 1.5 million tons of CO? equivalents that will not be emitted into the atmosphere.

UniCredit rises 1.2 percent to EUR40.79 per share.

By Claudia Cavaliere, Alliance News reporter

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