European Energy has secured finance for solar farms with a combined capacity over 121MW in France.
The €96.5m from French financial services outfit Natixis is for a PV complex in the Apulian region that is split into three sections.
Section A is 63MW and has been operating since November 2019, 40MW section B achieved grid parity in June this year, while the third 18.5MW part is scheduled for completion in October.
European Energy co-founder and chief executive Knud Erik Andersen said: “We are very pleased to have now secured this important financing of our Apulian solar farms, and we appreciate Natixis’ continuous support.
“Italy is one of our main markets, as we can pair the climate conditions and sunny days with cutting edge solar technology.
“We stand ready to invest heavily in similar Italian projects over the next five years.”
European Energy Italian country manager Alessandro Migliorini said: “The present agreement is another recognition of our competence in developing renewable energy projects.
“Our strategy is to build last generation wind and solar plants with cutting edge technology and market oriented.
“I am happy that our projects are attractive not only to clients like, ie, utilities and industries but also to investors and financial operators.”