AES Solar Energy has successfully closed financing for an 8MW Torchiarolo solar photovoltaic (PV) facility project in the Puglia region of Italy.

The 8MW Torchiarolo project is AES’s second solar PV project in Italy this year and will be developed under Italy’s feed-in tariff structure.

The project requires long-term non-recourse financing facilities of €31m.

UniCredit Mediocredito Centrale and Centrobanca – Banca di Credito Finanziario e Mobiliare will provide funding to cover about 85% of estimated project costs at completion.