Sunprime to close solar-storage PF, Italy

Sunprime, backed by Nofar Energy, has announced a €507 million portfolio financing for solar and battery storage projects in Italy. This project financing (PF) structure, utilizing a blend of Development Finance Institution (DFI) and commercial debt tranches, signals continued investor confidence in renewable energy infrastructure within the Italian market. The deal underscores the growing importance of battery storage alongside solar power to enhance grid stability and reliability, particularly as Italy aims to meet its renewable energy targets. The significant size of the financing demonstrates the scale of Sunprime's ambitions in the Italian renewable energy sector. The involvement of both DFIs and commercial lenders highlights the attractiveness of the project to a diverse range of investors, potentially de-risking the investment and facilitating future renewable energy projects in the region. While specific capacity and project stage details are unavailable, the announcement suggests a substantial commitment to expanding solar and storage infrastructure in Italy.