Steer boosts energy efficiency across Italian cities with green project financing for UniCredit

Steer has acted as Independent Model Reviewer on a €73 million green financing project for Italian multinational banking group UniCredit.

The mini-perm financing for Teike, Italy’s third-largest independent pure player in the public lighting sector, will help to accelerate investment in energy-efficient public lighting and smart city infrastructure across Italy.

The financing, which benefits from a SACE green guarantee, will support Teike’s organic expansion, strategic acquisitions, and the refinancing of existing debt. Teike is wholly owned by Pioneer Infrastructure Partners.

Steer provided independent model review services on the financial model underpinning the transaction, reviewing the model’s structure, accuracy, and consistency, as well as testing cash flows, key assumptions, and downside scenarios. This work supported lender confidence in the bankability of the project and the robustness of the financing structure.

The transaction supports Italy’s national energy and climate objectives by enabling long-term investment in efficient urban infrastructure, helping municipalities reduce energy consumption and carbon emissions.

Looking to strengthen lender confidence in complex infrastructure financing?

Talk to Raffael Massa about independent model review and financial assurance.