Renewable energy company Green Genius and Eiffel Transition Infrastructure, managed by Eiffel Investment Group, have set up a Joint Venture to develop and build a 500MW solar portfolio in Italy.
Through this JV, Eiffel will initially invest up to €15m to support the development of the portfolio, with additional funding to be dedicated for supporting projects during the construction stage.
Eiffel Investment Group and Green Genius, have been partnering up since 2019 on photovoltaic projects in Poland, Italy and Spain.
Through this new transaction, Green Genius will bring 500MW of projects in Italy, mainly Puglia and Sardinia, to the permitting phase and Eiffel will finance this critical period to obtain the necessary permits and authorisations through equity financing.
Green Genius will lead the development process until the projects are ready to be built.
Construction is then planned to start by the end of 2023.