Sunprime secures €507M financing for 290 MW solar and 350 MW BESS project
Type: Financing · Technology: Solar · Country: Italy · Capacity: 290 MW · Value: EUR 507M · Announced: 2026-03-18
Sunprime Holdings has secured a €507 million financing package from the European Investment Bank (BEI) and Natixis Corporate & Investment Banking (Natixis CIB) to support the development of a 290 MW solar project and a 350 MW battery energy storage system (BESS) in Italy. The project, known as Progetto Sophocles, will consist of approximately 200 solar installations and is expected to generate 416 GWh of renewable energy per year. The financing will be structured into 6-12 clusters with cross-collateralized guarantees, and the revenue will come from the FerX, tolling agreements, and participation in the capacity market. The majority of the solar installations will be built on existing industrial rooftops and commercial surfaces, minimizing land use and environmental impact. This financing agreement will enable Sunprime to reach 750 MW of solar projects and 1,400 MWh of battery storage by 2027. The BEI will provide up to €271 million in financing, while Natixis CIB will act as the lender for the remaining amount.
Analysis
Sunprime Holdings has secured a €507 million financing package from the European Investment Bank and Natixis Corporate & Investment Banking to support the development of a 290 MW solar project and a 350 MW battery energy storage system in Italy. Sunprime Holdings is a Stockholm-based renewable energy developer and independent power producer with over 1.5 GW of utility-scale solar PV projects under development across Europe, operating in Sweden, Spain, Italy, and Portugal. The project, known as Progetto Sophocles, will consist of approximately 200 solar installations and is expected to generate 416 GWh of renewable energy per year. The financing will be structured into 6-12 clusters with cross-collateralized guarantees, and the European Investment Bank will provide up to €271 million in financing, while Natixis Corporate & Investment Banking will act as the lender for the remaining amount. The financing agreement will enable Sunprime to reach 750 MW of solar projects and 1,400 MWh of battery storage by 2027.
Key points
- €507 million financing package
- 290 MW solar project
- 350 MW battery energy storage system
- 416 GWh of renewable energy per year
- 2027 target for 750 MW of solar projects and 1,400 MWh of battery storage
Counterparties
- Natixis Corporate & Investment Banking (Natixis CIB) (Lender)
- Sunprime Holdings (Borrower)
- Banca Europea per gli Investimenti (BEI) (Lender)