EIB, Natixis CIB And Sunprime Sign €204M Transaction For One Of Italy’s Largest Solar Portfolio Operations

This loan will support the construction and operation of more than 100 photovoltaic systems on roofs and on land across Italy with a maximum total installed capacity of up to 220 MW. This strategy reinforces the smart use of space and decentralised production.

Once operational, by 2026, these plants will generate about 275 GWh/year of renewable electricity, meeting the annual needs of more than 105 thousand Italian families. This operation will help achieve the RePowerEU targets, which the EIB  has committed to support with €45 billion of additional investment by 2027 , and Italy’s targets for renewable energy. It is also estimated that the PV portfolio will gradually reduce CO₂ emissions by about 2.35 million tonnes over its life cycle.

Most photovoltaic systems will be eligible for the incentive rate under the Renewable Decree (FER Decree 1) as they will be built on industrial land or on roofs involving asbestos removal, thus generating contractual revenues for 20 years. As regards the remaining capacity for the installations to be built on agricultural land, Sunprime will either enter into long-term agreements for the purchase of electricity or sell the energy produced on the market.

The transaction advisors are Legance - Avvocati Associati (legal entity supporting the lenders), Ashurst Studio Legale together with Ashurst LLP (legal entity supporting Sunprime), Praxi (technical), Marsh (insurance), KPMG (tax and model auditor) and ValeCap (financial advisor of Sunprime).