European Energy Secures $270m for Sicily Solar Project
European Energy has secured $270 million (€234.1 million) in project financing for the 225MW Vizzini agrivoltaic project in Sicily, Italy.
The financing, provided by Crédit Agricole CIB, Intesa Sanpaolo’s IMI CIB Division, NORD/LB and Société Générale, will support construction of the project, which is already underway and is expected to enter commercial operation in 2028.
The Vizzini project is among the first agrivoltaic projects of its scale and complexity in Italy to secure project financing. It combines utility-scale solar generation with continued agricultural use, including sheep grazing, as well as reforestation and biodiversity measures.
The project is backed by a 20-year Contract for Difference awarded under Italy’s FerX government support scheme.
Once operational, the facility is expected to generate approximately 405 GWh of electricity annually, equivalent to the consumption of more than 135,000 households.
“Vizzini demonstrates that agrivoltaics can move beyond development into large-scale construction and financing,” said Filippo Ricci, Country Manager of Italy at European Energy.
Source: europeanenergy.com
