Italy: EIB, Natixis CIB and Sunprime sign €507 million programme to deploy one of Italy’s largest solar and storage portfolios

This article is published in association with European Investment Bank.

• The programme will support the development of around 200 solar photovoltaic plants totalling 290 MWp, together with 350 MW of battery‑energy storage systems across Italy
• The European Investment Bank will provide up to €271 million in financing
• The programme will generate 416 GWh of renewable electricity annually, enough to power over 160 000 Italian households, and is expected to avoid around 2.86 million tonnes of CO₂ emissions over its lifetime
• Natixis CIB acted as Sole Underwriter, Structuring MLA, Bookrunner, Hedging Bank, Green Loan Coordinator and Agent Bank  

Today the European Investment Bank (EIB), Natixis Corporate & Investment Banking (Natixis CIB) and Sunprime Holdings S.r.l., have signed in Milan a project‑finance operation worth up to €507 million to support Project Sophocles, a major investment programme combining rooftop and ground‑mounted solar photovoltaic (PV) plants with battery‑energy storage systems (BESS) across Italy.

Project Sophocles will finance the construction and operation of approximately 200 PV plants totalling 290 MWp alongside 350 MW of BESS capacity. By pairing distributed solar generation with large‑scale battery storage the programme will enhance grid flexibility, support renewable‑energy integration and strengthen the resilience of the Italian electricity system, with the EIB making available up to €271 million in financing.

Once operational, the programme is expected to generate 416 GWh of renewable electricity each year, equivalent to powering more than 160 000 Italian households. Over its lifetime, Project Sophocles is estimated to avoid around 2.86 million tonnes of CO₂ emissions compared with fossil‑fuel‑based generation.

Sunprime Holdings S.r.l., an Italian independent power producer with a strong track record in distributed solar and storage projects, will act as promoter. A previous EIB and Natixis CIB ‑ financed operation with Sunprime is progressing smoothly and on budget, confirming the reliability of the promoter’s model and execution capacity. Project Sophocles consolidates this partnership and supports the continued expansion of Sunprime’s decentralised‑generation strategy.

“Italy is rapidly scaling up decentralised solar and storage, and Project Sophocles is a landmark example of how solar photovoltaic plants and batteries can work together to create a cleaner, more flexible and more secure electricity system. With the support of InvestEU and in line with the REPowerEU objectives, the EIB is able to mobilise significant long‑term financing to accelerate the green transition while crowding in private capital,” said EIB Vice‑President Gelsomina Vigliotti.

“Building on the success of Project Solomon closed with Sunprime in 2024, we are proud to have acted as Sole Underwriter for our Client on this significant greenfield initiative. This transaction not only underscores our commitment to supporting key players in the renewable energy sector but also solidifies Natixis CIB’s leading position within the Italian market. The successful arrangement of this additional ‘Green Loan’ further demonstrates Natixis CIB’s unwavering dedication to driving sustainable development, actively contributing to the ecological transition, and upholding core environmental values” said Natixis CIB Senior Country Manager Guido Pescione.

“We can generate a significant portion of the electricity that we need with Solar projects, at a competitive cost and where it is more sustainble: next to industrial areas where the consumption is higher, on the rooftops of industrial or agricultural facilities, mostly after the removal of asbestos, on abandoned agricultural land or with respect to existing farming. This agreement further confirms the quality of our industrial vision and will lead Sunprime to 750MWp of solar projects and 1,400MWh of batteries into opearation by 2027.The confidence shown by the European Investment Bank and Natixis CIB is a strong endorsement of the strength of our business model and a step forward in reinforcing our leadership in the energy transition.” said Sunprime Holdings S.r.l. CEO Antonio Mazzitelli.

The project portfolio will be structured into 6 to 12 cross‑collateralised clusters, supported by the necessary grid‑connection infrastructure. Revenues are expected to stem from Italy’s Fer‑X Contract for Difference mechanism for solar generation, tolling agreements and capacity‑market participation for the BESS assets, complemented by wholesale electricity market revenues for PV.

The BESS component will provide critical services such as frequency regulation, peak‑shaving and congestion management, reducing reliance on gas‑fired capacity and contributing to improved air quality. Most installations will be located on industrial rooftops and existing commercial surfaces, ensuring efficient land use and minimal environmental impact.

The programme will also deliver strong socio‑economic benefits. Construction activities are expected to generate around 1 400 person‑years of temporary employment, while operations will create approximately 120 permanent full‑time equivalent jobs. By promoting distributed renewable generation across multiple regions, the programme supports local industries, supply chains and energy‑cost resilience for businesses.

The operation benefits from the support of the InvestEU Guarantee, with the InvestEU Fund, backed by a €26.2 billion EU budget guarantee and designed to mobilise at least €372 billion in public and private investment across Europe by 2027, supporting sustainable infrastructure projects such as renewable energy and storage.

The programme directly contributes to Italy’s 2030 National Energy and Climate Plan objectives and to the REPowerEU action plan, the European Commission’s strategy to rapidly reduce dependence on fossil fuels and accelerate the green transition. Investments will be implemented between 2026 and 2028 across several Italian regions, including cohesion regions where green‑transition investment and economic convergence remain essential EU priorities.

The transaction advisors are Legance – Avvocati Associati (legal entity supporting the lenders), Ashurst Studio Legale together with Ashurst LLP (legal entity supporting Sunprime), Praxi (technical), AON (insurance), KPMG (tax and model auditor) and ValeCap (financial advisor of Sunprime).

Background information

The EIB Group  

The European Investment Bank (ElB) Group is the financing arm of the European Union, owned by the 27 Member States, and one of the largest multilateral development banks in the world. In 2025, the EIB Group signed €100 billion of new financing and advisory services for over 870 high-impact projects in eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and the bioeconomy, social infrastructure, strong global partnerships and the savings and investment union. Beyond long-term loans for large infrastructures, the EIB Group crowds-in private investment for high-risk innovative projects and businesses, with a growing role in Europe’s markets for venture debt, venture capital, guarantees and securitisations.

The European Investment Fund (EIF) is the subsidiary of the EIB Group specialised in providing guarantees and equity to improve access to finance for small and medium size businesses and startups across Europe. Acting as an anchor investor, through its extensive network of partnering banks and investment funds, the EIF mobilizes private investment and nurtures the ecosystem of venture capital funds to support innovative European entrepreneurs.

In 2023, the EIF together with six member states (France, Germany, Italy, Spain, Belgium and the Netherlands) launched the European Tech Champions Initiative, a fund of funds to scale-up innovative startups. As of February 2026, this initiative has already enabled the creation of 13 European venture capital mega-funds and scaled up 38 companies, including 11 unicorns (with more than €1 billion in capital).

Photos of the EIB Group’s spokespeople and headquarters, logo files and video B-roll for media use are available here. 

Natixis Corporate & Investment Banking

Natixis Corporate & Investment Banking is a leading global financial institution that provides advisory, investment banking, financing, corporate banking and capital markets services to corporations, financial institutions, financial sponsors and sovereign and supranational organizations worldwide.

Our teams of experts in close to 30 countries advise clients on their strategic development, helping them to grow and transform their businesses, and maximize their positive impact. Natixis CIB is committed to aligning its financing portfolio with a carbon neutrality path by 2050 while helping its clients reduce the environmental impact of their business.

As part of Groupe BPCE, the second largest banking group in France through the Banque Populaire and Caisse d’Epargne retail networks, Natixis CIB benefits from the Group’s financial strength and solid financial ratings (Standard & Poor’s: A+, Moody’s: A1, Fitch Ratings: A+,R&I: A+).

Sunprime Holdings S.r.l.

Founded in 2020, Sunprime is a leading developer, constructor and operator of photovoltaic plants and battery energy storage systems (BESS) serving the industrial, agricultural and commercial segments. Headquartered in Milan, with a growing network of regional hubs, Sunprime operates through innovative models for the acquisition and enhancement of land and industrial rooftops, with a strong focus on project sustainability and on generating long-term value for local communities.

With a team of more than 160 professionals overseeing in-house all phases of development, construction and asset management, and supported by a solid and transparent financial structure, the company has secured over €763 million in project financing transactions with leading international financial institutions, including the European Investment Bank (EIB), Natixis CIB, Kommunalkredit Austria, KfW IPEX-Bank and Nord LB.

The company’s assets include photovoltaic plants, owned land and surface rights, with a total book value exceeding €257 million.

By the end of 2026, Sunprime will have connected 500 MWp of photovoltaic capacity and 250 MW of BESS, further strengthening its strategic role in Italy’s energy transition, supported by a REA-secured pipeline of over 1 GWp of solar capacity and more than 1 GW of BESS. The company is also committed to the development of advanced digital solutions, leveraging the integration of artificial intelligence, digital marketing and the automation of operational processes. sunprime.it

InvestEU

The InvestEU programme provides the European Union with long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps to crowd in private investment for the European Union’s strategic priorities such as the European Green Deal and the digital transition. InvestEU brings all EU financial instruments previously available for supporting investments within the European Union together under one roof, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEU Fund is deployed through implementing partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.