Global Infrastructure SherpaGreenIT secures €370 million project finance agreement to fund 1GW renewable energy capacity by 2030
EUR370M
Deal Value
1000 MW
Capacity
GreenIT, a joint venture between Plenitude and CDP Equity, has secured a €370 million project finance agreement to support its industrial plan, targeting 1GW of installed renewable energy capacity by 2030. The financing, aligned with Green Loan Principles, will fund the development of greenfield onshore projects in Italy, with construction expected to be completed by 2028. The European Investment Bank provided €220 million, with the remaining share from leading European financial institutions, underscoring strong confidence in GreenIT's strategic vision for Italy's energy transition.
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Counterparts (7)
Lender
B
BNP Paribas – Italian Branch
European Investment Bank
The European Investment Bank (EIB) is the lending arm of the European Union. It focuses on providing financing for projects that support EU policy objectives, including sustainable development, innovation, and infrastructure development.
C
Crédit Agricole Corporate & Investment Bank – Milan Branch
I
ING Bank N.V. – Milan Branch
S
Societe Générale – Milan Branch
Investor
borrower
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EIB's €220 million commitment anchors a €370 million project finance package for GreenIT, the joint venture between Plenitude and CDP Equity. This significant backing from the EU's lending arm, alongside BNP Paribas, Crédit Agricole, ING, and Societe Générale, will fund 1GW of greenfield onshore renewable capacity across Italy. The financing, structured under Green Loan Principles, supports GreenIT's industrial plan to bring these projects online by 2028, driving Italy's energy transition goals.
- EIB committed €220M, leading the €370M project finance.
- GreenIT, a Plenitude/CDP Equity JV, targets 1GW onshore capacity.
- Five European banks provided financing, including EIB.
- Construction for Italian greenfield projects expected by 2028.
Timeline
Announced
Sep 11, 2025
Signed
Closed
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