Rubis Photosol secures €43.5 million financing for 43 MW agrivoltaic portfolio in Lazio, Italy

Rubis Photosol has secured €43.5 million in project financing for its 43 MW agrivoltaic portfolio across four sites in Lazio, Italy. This transaction represents Rubis Photosol's inaugural venture into the Italian renewable energy market, establishing a significant 43 MW presence in Lazio. The €43.5 million financing for the 43 MW capacity suggests a direct €1 million per MW capital deployment for the French developer's first Italian projects. This strategic expansion into Italy allows Rubis Photosol, the dedicated renewable energy arm of the Rubis Group, to diversify its geographic footprint beyond its established French base. The agrivoltaic nature of the portfolio in Lazio indicates a focus on optimizing land use, potentially mitigating development challenges often associated with large-scale solar projects in new markets. Crédit Agricole CIB, the corporate and investment banking arm of the Crédit Agricole Group with 8,900 global employees, acted as a lender, adding this 43 MW Italian agrivoltaic portfolio to its project finance activities. Co-lender BPCE Energeco, a Groupe BPCE subsidiary established in 2021, further expands its European reach with this deal, building on its track record of financing over 70 renewable energy projects totaling more than 2 GW and €2 billion, primarily across France. For Rubis Photosol, a French renewable energy developer and IPP specializing in solar photovoltaic projects, this €43.5 million financing enables the execution of its first Italian portfolio, marking a significant geographic diversification for the Rubis Group's dedicated renewable energy arm. This collaboration between French financial institutions and a French developer for an Italian agrivoltaic portfolio demonstrates a cross-border financing model for European renewable energy expansion.