Stephenson Harwood LLP has advised Denmark-based renewables investor and asset manager Obton A/S on a refinancing transaction.

The refinancing was on a limited recourse basis, and was of a photovoltaic portfolio consisting of four plants with a total capacity of approximately 4MW. The plants are all in Italy and the portfolio was acquired by one of the Obton funds last April from Impax Assets Management.

The Stephenson Harwood team – which was led by corporate partner Marco Pocci – assisted Obton A/S in terminating the existing financing and in entering into refinancing arrangements with Banco BPM S.p.A. (BBPM).

BBPM was advised by Giuseppe Velluto, Filippo Manaresi, Silvia Morando and Giulio Mandelli  of Gianni Originoni Grippo & Cappelli.