Photo - Chelsea/Unsplash
European Energy as Sponsor has reached financial close on EUR 234.1m of project financing on behalf of Sun Project s.r.l as Borrower, the developer of a 225 MW advanced agrivoltaic project located in Vizzini (CT) – Sicily, Italy.
The financing was provided by Crédit Agricole CIB, Intesa Sanpaolo (IMI CIB Division), NORD/LB, and Societe Generale and will support the construction of the project, which is expected to enter commercial operation in 2028.
The transaction is among the first financings of an agrivoltaic project of this scale and complexity in Italy. Unlike a conventional utility-scale solar installation, Vizzini has been designed to integrate large-scale electricity generation with continued agricultural activities and biodiversity measures across the site. Securing long-term project financing from four leading European banks therefore represents an important demonstration of the bankability of advanced agrivoltaic projects in the Italian market.
The project benefits from a 20-year Contract for Difference awarded under Italy’s FerX government support scheme, providing long-term revenue visibility.
“Securing financing for projects of this scale reflects the quality of our development work and our ability to deliver investment-ready renewable energy assets. Strong interest from leading international and Italian lenders demonstrates continued confidence in well-structured renewable energy projects backed by stable regulatory frameworks,” said Jens-Peter Zink, Deputy CEO at European Energy.
Construction of the project is already underway. Once completed, Vizzini will be among the largest agrivoltaic projects in Italy. The facility is expected to generate approximately 405 GWh of electricity annually, corresponding to the electricity consumption of more than 135,000 households.
