Enel Green Power's 3Sun secures 560 million funding package to expand solar gigafactory

Enel Green Power’s photovoltaic cell and modules production gigafactory, 3Sun, has obtained a substantial €560 million financial package to facilitate the expansion of its production capacity, marking a significant milestone in Europe’s energy transition and security. The financing, made possible through a collaboration between the European Investment Bank (EIB) with support from InvestEU, and a consortium of Italian banks led by UniCredit, includes BPER Banca (Corporate & Investment Banking) and Banco BPM, with backing from SACE, Italy’s export credit agency.

Situated in Catania, Sicily, 3Sun’s current production capacity of approximately 200 megawatts (MW) per year is slated to increase to 3 gigawatts (GW) by the end of 2024, making it the largest solar factory in Europe. The expanded capacity will not only generate enough clean energy to power the equivalent of 1 million households annually but also contribute to economic growth in Sicily by creating direct and indirect job opportunities.