NORD/LB has closed project financing for a 75MW portfolio of 21 photovoltaic plants in Italy sponsored by AIEM Green Srl and backed by Impax New Energy Investors IV.
The bank said it is acting as sole lender, mandated lead arranger, hedge provider, agent and account bank for the transaction.
NORD/LB added the financing will support the construction and delivery phase of the portfolio.
The portfolio comprises 21 ground-mounted solar PV plants located across north and central Italy.
Several of the projects are already under construction with the first commercial operation dates expected in the first quarter of 2026.
The remaining sites are scheduled to reach commercial operation progressively through to 2028.
Once fully operational, the portfolio is expected to have the capacity to power approximately 45,000 Italian homes annually.
The projects will operate under a blended revenue structure with some plants benefiting from public incentive regimes including FER 19, FER X and the Agrivoltaic PNRR scheme while others will operate on a merchant basis.
“We are proud to support AIEM Green and its sponsors with a financing structure that reflects both the quality of the portfolio and the growing role privately financed solar projects can play in delivering the energy transition,” said Cecile Luciano, director at NORD/LB.
“This transaction underlines NORD/LB’s continued commitment to supporting the expansion of renewable energy infrastructure across Europe. Italy remains a key market for us, with strong fundamentals and clear long-term policy ambitions under the PNIEC for solar deployment.”
“This transaction represents a key milestone for AIEM Green and confirms our commitment to developing innovative and sustainable energy projects,” stated the AIEM Green management team comprising Massimo Turri, chairman, Elia Corrado Lubian, chief executive, Diego Toti, general manager and Domenico Cambareri, CTOO.
“We are proud to be contributing to Italy’s energy transition through a portfolio that combines technological innovation, agricultural compatibility and long-term value creation.”