UniCredit has completed a €73 million ($84 million) green mini-perm project financing for Teike srl, an Italian public lighting operator owned by Pioneer Infrastructure Partners.
The loan, certified under the Green Loan Principles and backed by a green guarantee from SACE, will be used to support Teike’s expansion plans, fund acquisitions and refinance existing debt.
Teike, an energy services company operating since 1950 and formerly known as Simet Soluzioni Energetiche, manages around 160,000 public lighting points through long-term contracts with more than 110 municipalities across several Italian regions, including Veneto, Lombardy, Piedmont, Tuscany, Apulia and Abruzzo. Its activities include public lighting and smart city services delivered directly and via subsidiaries.
The financing is structured around Teike’s portfolio of long-term municipal contracts, which provide inflation-linked revenues and extended visibility. The transaction supports investments in energy-efficient public infrastructure, including lighting, heating and renewable energy solutions for municipalities and public entities.
Alessandro Giussani, chief financial officer at Teike, said: “This important transaction, successfully finalised thanks to the experience and significant know-how of our management, represents an innovative project for the public lighting industry, supporting the continued growth of Teike in the Italian public lighting market and contributing to the energy transition through efficient urban infrastructure.”
Francesco Iannella, regional manager for the northeast at UniCredit, said the deal reflected the bank’s role in financing projects linked to energy transition objectives. “By providing advisory services and innovative financing solutions, we support customers investing in energy transformation in line with European and national programmes,” he said.
UniCredit acted as global coordinator and bookrunner, mandated lead arranger, original lender, hedging bank and agent across several roles for the transaction. Legal advice to the lender was provided by Gianni & Origoni, while Protos and Willis served as technical-environmental and insurance advisers respectively, and Steer acted as model auditor. Teike was advised by Prothea as financial adviser and CBA Studio Legale e Tributario as legal adviser on the financing documentation.
