Innovo Renewables secures financing for Italian solar portfolio

Innovo Renewables has secured an €80.5 million project financing facility from Bayerische Landesbank (BayernLB) for a 70 MWp solar PV portfolio in Italy. This financing will support the development and operation of the solar portfolio, contributing to Italy's renewable energy capacity. BayernLB's involvement as the lender underscores the continued interest from established financial institutions in funding renewable energy projects within the European market. The deal highlights the ongoing investment in solar energy infrastructure and the commitment to expanding renewable energy generation in Italy. The financing agreement demonstrates Innovo Renewables' ability to attract capital for its renewable energy projects. The 70 MWp portfolio will contribute to Italy's efforts to meet its renewable energy targets and reduce its reliance on fossil fuels. This transaction further solidifies BayernLB's position as a key player in financing renewable energy projects across Europe. The successful closure of this financing facility is a positive signal for the renewable energy sector, indicating continued investor confidence and the availability of capital for viable projects.