EXPERIENCE IN DEAL MAKING

Strategic Advisory Services and Project Development Support

In the context of complex operations involving both public and private stakeholders from the earliest stages of development, COIPA Italia S.p.A. provides comprehensive advisory services, including:

• Preliminary technical, legal, and financial structuring support, to define the essential framework and terms to attract international partners, co-developers, and investors;

Coordination of:

• • Technical documentation, including Front-End Engineering Design (FEED) and Execution Planning;
    

  • Economic and financial plans, incorporating project business models, projected balance sheets, income statements, cash flow analyses, debt structures, repayment schedules, and return projections (IRR, ROI);

  • Sensitivity analysis and robust evaluation of project bankability;

• Finalization of key project agreements with granting authorities, contractors, commercial partners, and financiers;

• Facilitation of partnerships between construction and service providers interested in co-developing and co-financing projects with host-country institutions and private market players;

• Advisory support in accessing financing, guarantees, and insurance coverage from ECAs, as well as backing from multilateral institutions, governments, and public investment funds.

The company acts as advisor, project developer, and promoter, managing the full development cycle:

• Context analysis and identification of infrastructure priorities in target countries;
• Origination and technical-financial structuring of initiatives;
• Coordination of local and international stakeholders/investors;
• Identification of industrial partners and definition of EPC/O&M/Supply contracts;
• Fundraising support through equity, debt, and blended finance instruments.

Export & Project Finance: SACE-Backed Structures

In the context of Project and Export Finance credit facilities guaranteed by SACE (the Italian Export Credit Agency), COIPA Italia S.p.A. designs and implements financing frameworks structured around the following core principles:

Key Structural Elements:

• Involvement of SACE:
  SACE plays a central role by providing a guarantee to secure a significant portion of the required debt financing, potentially in coordination with other European Export Credit Agencies (ECAs).

• Guarantee Conditions:
  The issuance of the guarantee is conditional upon a substantial share of the goods and services used in the project being of Italian and/or European origin.

• Project SPV (Special Purpose Vehicle):
  A dedicated SPV is established to act as the sole implementing entity of the project, assuming the following functions:

  • Holder of the concession or beneficial owner of the project;

  • Legally recognized entity authorized to execute the project;

  • Contractual counterparty to EPC contractors and O&M service providers;

  • Commercial operator responsible for selling the project’s services or output under long-term agreements or regulatory frameworks to public or private offtakers.

• Financing Structure:
  Financing is arranged through a Buyer’s Credit or Project Finance model, relying on the project’s capacity to generate predictable cash flows sufficient to service debt and provide returns to equity investors, typically on a limited or non-recourse basis.

• Implementation Process:
  Once the project structure is approved:

  • SACE issues its guarantee in favor of the lending institutions;

  • Lenders disburse the funds to the Project SPV;

  • The SPV utilizes the proceeds to procure eligible Italian and/or European goods and services and to execute the project.