EIB, Natixis CIB, and Sunprime Group Close €204 Million Deal for Italian Solar Project

The European Investment Bank (EIB), Natixis Corporate & Investment Banking (Natixis CIB), and Sunprime Group have announced a €204 million project finance operation to support one of Italy’s largest photovoltaic portfolios. This significant funding will enable the development of over 100 photovoltaic systems across rooftops and land throughout Italy, with a combined maximum installed capacity of up to 220 megawatts (MW).

The financing will facilitate the construction and operation of these systems, which are expected to generate approximately 275 gigawatt-hours (GWh) of renewable electricity annually by 2026. This output will be sufficient to meet the annual energy needs of more than 105,000 Italian households. The initiative aligns with the RePowerEU targets, with the EIB committing an additional €45 billion in investments by 2027 to support these goals. The portfolio is projected to reduce CO2 emissions by about 2.35 million tonnes over its lifetime.

EIB Vice-President Gelsomina Vigliotti commented, “Italy holds substantial potential for solar energy production, and this investment will enhance the country’s energy independence. As the climate bank of the European Union, the EIB’s financing is crucial for fostering sustainability for future generations.”

Antonio Mazzitelli, CEO of Sunprime, highlighted the importance of the project: “This pivotal transaction will help us achieve our goal of connecting 500 MW across 400 projects throughout Italy, focusing on sustainable installation sites such as roofs post-asbestos removal and energy-intensive companies. We are targeting industrial and agricultural lands near industrial zones.”

Stefano Mazza, Executive Director of Infra&Energy Finance at Natixis CIB’s Milan branch, added, “We are honored to be the Sole Underwriter for this significant greenfield initiative for Sunprime, further establishing our leadership in Italy’s renewable energy sector. This ‘Green Loan’ underscores Natixis’s commitment to sustainable development and ecological transition.”

Most of the photovoltaic systems will qualify for the Renewable Decree (FER Decree 1) incentive rates, being installed on industrial land or roofs with asbestos removal, ensuring 20 years of contractual revenues. For installations on agricultural land, Sunprime plans to either secure long-term electricity purchase agreements or sell the produced energy on the market.