EIB, SACE Fund €100M Solar Project In Sicily
Date
12/20/2024 5:10:05 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, December 20. The European
Investment bank (EIB) and Iberdrola, supported by SACE's Archimede
Guarantee, have signed a 100 million euro green loan agreement for
the construction of a new photovoltaic plant in Italy, Trend reports.
The project, located in the provinces of Enna and Catania in
Sicily, aims to contribute to Italy's renewable energy goals and
the European Union's climate targets.
Expected to become operational in 2025, the photovoltaic plant
will have a generation capacity of 242.78 MWp, sufficient to power
approximately 154,000 Italian households annually. The EIB's
financing is 70% supported by SACE's Archimede Guarantee, which
offers market-based guarantees for financing and bonds, aiming to
enhance Italy's national competitiveness.
EIB Vice-President Gelsomina Vigliotti emphasized the bank's
commitment to Italy's renewable energy sector, stating, "The EIB
plays a crucial role in attracting foreign investors to promote
environmental sustainability and economic growth."
SACE CEO Alessandra Ricci highlighted the project's potential to
drive productivity and create new job opportunities, noting that
SACE's Archimede Guarantee has approved over €4.9 billion in
transactions to support Italy's growth.
Iberdrola Italy's CEO, Valerio Faccenda, noted that the loan and
SACE's backing will help advance Italy's energy transition,
providing clean energy to thousands of homes.
The project also aims to boost the local economy, with the
construction and management of the plant creating employment
opportunities. It is expected to serve as a model for future
renewable energy investments in the region.
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