Sunprime secures €507M financing for 290 MW solar and 350 MW BESS project

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.