The European Investment Bank and Iberdrola have signed a €100m green loan agreement for a new photovoltaic plant in Italy.
The agreement is back by SACE’s Archimede Guarantee.
Operational in 2025 and located in the provinces of Enna and Catania, Sicily, the new photovoltaic plant will have a renewable energy generation capacity of 242.78 MWp, enough to meet the annual needs of approximately 154,000 Italian households.
The EIB’s financing is 70% backed by SACE’s Archimede Guarantee, which provides market-based guarantees for financings and bonds with durations of up to 25 years, aimed at enhancing the competitiveness of the national system.
EIB Vice-President Gelsomina Vigliotti said: “The EIB remains a key partner for Italy in the renewable energy sector. The EIB plays a crucial role in attracting foreign investors to the country with the aim of promoting environmental sustainability, social cohesion and economic growth.”
Alessandra Ricci, SACE CEO, declared: “We are proud to partner with EIB alongside Iberdrola for this paramount investment in Sicily in the renewable sector, a project that will boost productivity, competitiveness and will create new job opportunities. With this aim, since the start of Garanzia Archimede operations last June we have approved over 4.9 billion transactions to enhance Italy’s growth potential.”
Valerio Faccenda, CEO of Iberdrola Italy: “Thanks to this EIB loan and SACE’s support at Iberdrola, we will continue to make progress in Italy’s energy transition, with this new renewable project that will allow to produce clean energy equivalent to the consumption of 154,000 homes.”