Renewables, from EIB and Natixis 507 million for Sunprime

Solar and batteries: half a billion euro financing for Sunprime Holdings, an independent energy producer founded in 2020, based in Milan. The company has signed with the European Investment Bank (EIB) and Natixis Corporate & Investment Banking a EUR 507 million project finance deal to support the Sophocles project to build and bring into operation across Italy some 200 rooftop and ground-mounted photovoltaic plants totalling 290 MW, along with 350 MW of battery storage capacity. This portfolio will be organised in 6-12 clusters: over 150 MW of solar projects have already successfully participated in the first Fer X tender, while 55 MW of batteries have gone to the Capacity market with delivery by 2027 and others are ready to participate in subsequent tenders.

The EIB and Natixis Cib have already financed Sunprime in a similar operation in 2024, the Solomon programme, with EUR 204 million to support a portfolio of around 150 plants, exclusively photovoltaic: 'Around half of this portfolio is currently connected, while the second half is being built and connected, with completion expected by 2026,' the company says.

Bei is now participating in the operation by providing up to EUR 271m in financing, the rest being a green loan from Natixis. "Italia is accelerating rapidly on solar and decentralised storage systems, and the Sophocles project is an emblematic example of how photovoltaic plants and batteries can work together to create a cleaner, more flexible and safer electricity system. With InvestEu's support and in line with the objectives of RePowerEu, the EIB can mobilise significant long-term financing to accelerate the green transition and attract private capital," comments the bank's Vice-President Gelsomina Vigliotti.

"In the wake of the success of the Solomon project, we are proud to have acted as sole underwriter for our client in this important greenfield initiative," adds Guido Pescione, senior country manager of Natixis Cib. "The structuring of this additional green loan," he observes, "testifies to Natixis Cib's determination to promote sustainable development.

Sunprime has a one-third shareholding held by management, with the remainder split between the infrastructure fund Noy Fund and Nofar Energy, a company listed on the Tel Aviv Stock Exchange, both based in Tel Aviv. Today it has a portfolio of around 1 GW of photovoltaics and 3 GWh of batteries in Italia, all in a very mature state, with 300 MW already connected.