|
Listen to this story:
|
- Boosts Clean Energy: The plant will generate 400 GWh annually, powering 154,000 Italian households and supporting EU climate targets.
- Drives Regional Growth: The project combines cutting-edge technology and local job creation, fostering economic development in Sicily.
- Strengthens Collaboration: Marks the first EIB operation with Iberdrola under SACE’s Archimede guarantee, paving the way for future partnerships.
Iberdrola’s Milestone Investment in Sicily
Iberdrola has secured a €100 million green loan from the European Investment Bank (EIB), backed by SACE’s Archimede guarantee, to construct a state-of-the-art photovoltaic (PV) plant in Sicily. This project represents a significant step toward achieving Italy’s renewable energy goals and the European Union’s climate commitments.
The plant, located across Enna and Catania provinces, is expected to be operational by 2025 with a capacity of 242.78 MWp. This will produce 400 GWh annually—enough to meet the energy needs of approximately 154,000 Italian households.
“The EIB plays a key role in attracting foreign investors to Italy, promoting environmental sustainability, social cohesion, and economic growth,” said EIB Vice-President Gelsomina Vigliotti.
A Model for Sustainable Development
The project integrates advanced technology to ensure high energy efficiency and minimal environmental impact. Additionally, it will create local employment opportunities, boosting the region’s economy.
“This landmark investment will not only boost productivity and competitiveness but also create new employment opportunities,” said Alessandra Ricci, CEO of SACE.
Related Article: Iberdrola, HSBC, ICO and Sabadell Sign €500 Million Green Loan for Renewable Projects in US, Australia, and Italy
Valerio Faccenda, CEO of Iberdrola Italia, highlighted the company’s commitment to Italy’s energy transition:
“Thanks to this EIB loan and SACE’s support, we will bring clean energy to thousands of households while advancing the nation’s energy transition.”
A Catalyst for Future Collaborations
This partnership between the EIB, SACE, and Iberdrola demonstrates a scalable model for renewable energy financing. It underscores the importance of international cooperation in achieving sustainability goals.
With this agreement, SACE has now approved over €4.9 billion in operations under the Archimede guarantee, fostering Italy’s economic and environmental resilience.
Background on Key Players
- EIB: The EU’s financing arm, committed to mobilizing €1 trillion in investment for climate action by 2030. Over the past five years, it has financed €58 billion worth of projects in Italy.
- SACE: An Italian financial group specializing in supporting national competitiveness and sustainability. It has backed 50,000 companies globally with €260 billion in guaranteed investments.
- Iberdrola: A leader in sustainable financing, with over €57 billion in green and sustainability-linked funding, actively driving the decarbonization of the global economy.
This project highlights how strategic partnerships and innovative financing can drive impactful climate action and regional growth.
Follow ESG News on LinkedIn