Forvis Mazars acted as tax advisor to Trina Solar: financing transaction exceeding €85 million for a 102 MW photovoltaic portfolio

Trina Solar (Italy) Systems obtained a project financing facility in excess of €85 million from Nord/LB to support the development and construction in Italy of a photovoltaic portfolio with a total installed capacity of 102 MWp.

The portfolio comprises utility-scale assets located in Piedmont, Lazio, Tuscany, Sardinia, Apulia and Sicily, further confirming the strategic importance of the Italian market for Trina Solar within the EMEA region.

Forvis Mazars acted as tax advisor to Trina Solar, supporting the company in assessing the tax profile of the transaction for the purposes of the financing granted by Nord/LB. The engagement was led by Raffaele Villa, Tax Advisory Partner, with the support of Floriano Mascolo, Tax Senior Manager.

The tax team assisted the client in analysing the tax treatment applicable throughout the entire lifecycle of the power generation assets—from the development and construction phases through to operations—with reference to all major relevant taxes. The analysis was structured to support the financial model audit required by Nord/LB as part of the credit approval process.

Forvis Mazars also carried out tax due diligence on the 14 SPVs and the holding company, as the final recipients of the funding provided.