Italian solar power producer Sunprime Group has obtained EUR 204 million (USD 220.7 million) in debt financing to support the installation of rooftop and ground-mounted solar parks across Italy, totaling up to 220 MW.
The financing will be provided by Natixis Corporate & Investment Banking and the European Investment Bank (EIB). The EIB's contribution to the funding package amounts to EUR 97 million, the institution stated on Tuesday.
The loan will facilitate the construction of over 100 photovoltaic (PV) plants on roofs and land throughout Italy. The portfolio is among the largest PV bundles in the country, according to the statement.
Once operational, the solar parks are projected to generate approximately 275 GWh of electricity annually, sufficient to meet the consumption needs of over 105,000 local households. Most of the PV arrays will be situated on industrial land or roofs, involving asbestos removal, qualifying them for incentives under Italy's FER Decree 1. Some installations will be located on agricultural land, with their output intended for market sale.
The PV plants are expected to begin operations by 2026.
This loan agreement aligns with Sunprime's strategy to achieve 500 MWp of grid-connected PV capacity across Italy.
