From the EIB 204 million for over 100 photovoltaic plants across Italy

Brussels – The European Investment Bank (EIB), Natixis Corporate & Investment Banking (Natixis CIB), and Sunprime Group together to fund one of the largest photovoltaic portfolios in Italy. The €204 million deal will finance the construction and operation of over one hundred rooftop and ground-mounted photovoltaic plants throughout Italy, with a maximum installed capacity of up to 220 MW.

Once operational, by 2026, the plants will produce about 275 GWh/year of renewable power, enough to meet the annual needs of more than 105,000 Italian households. The operation will contribute to achieving the RepowerEU targets, which the EIB has pledged to finance with a further 45 billion euros by 2027, in addition to Italy’s renewable energy targets. The EIB, Natixis CIB, and Sunprime estimate they can gradually reduce CO₂ emissions by about 2.35 million tons.

“Italy is a market with huge potential for solar energy production and this funding will make the country more energy independent,” said Gelsomina Vigliotti, EIB Vice President. According to Antonio Mazzitelli, CEO of Sunprime, “This key transaction will enable our group to reach the target of 500 MWp connected over 400 projects throughout Italy, built in areas where it is more sustainable to install photovoltaic systems: roofs after asbestos has been removed, energy-intensive companies, industrial and agricultural land close to industrial zones.” Stefano Mazza, Executive Director Infra&Energy Finance at Natixis CIB expressed pride in having “been appointed as Sole Underwriter for this key greenfield initiative for Sunprime, which consolidates our leading position in the renewable energy sector in Italy.”

Most of the photovoltaic plants will be eligible for the feed-in tariff under the Renewable Decree or ‘RES Decree 1’ as they will be built on industrial land or roofs with related asbestos removal, thus generating contractual revenues for 20 years. As for the remaining capacity related to the plants on agricultural land, Sunprime will either sign long-term power purchase agreements or sell the energy produced on the market.

Italian holding company Sunprime MT Srl,  part of the Sunprime Group, will own all the plants. Sunprime, through its subsidiary Sunprime Development Srl, will also carry out construction work and operation and maintenance activities.