The European Investment Bank (EIB) and Iberdrola have finalized a €100 million green loan agreement to finance a new photovoltaic plant in Sicily, Italy. Supported by SACE's Archimede Guarantee, the project represents a significant step forward in Italy's renewable energy expansion.
Located in the provinces of Enna and Catania, the plant will have a generation capacity of 242.78 megawatt-peak (MWp), sufficient to supply clean electricity to approximately 154,000 Italian households annually. The facility is expected to become operational in 2025.
The EIB's financing is 70% backed by SACE's Archimede Guarantee, which supports long-term investments aimed at bolstering Italy's economic competitiveness.
“The EIB remains a key partner for Italy in the renewable energy sector,” said Gelsomina Vigliotti, EIB Vice-President. “We play a crucial role in attracting foreign investors to promote environmental sustainability, social cohesion, and economic growth.”
SACE CEO Alessandra Ricci highlighted the partnership's significance, stating, “This paramount investment in Sicily will boost productivity, competitiveness, and create new job opportunities. Since launching the Garanzia Archimede program in June, we have approved over €4.9 billion in transactions to enhance Italy's growth potential.”
Valerio Faccenda, CEO of Iberdrola Italy, emphasized the project's role in advancing Italy's energy transition: “With this EIB loan and SACE's support, we will produce clean energy equivalent to the consumption of 154,000 homes.”
The photovoltaic project underscores Italy's commitment to renewable energy development and positions Sicily as a key hub in the country's green energy transformation.
