The European Investment Bank (EIB) and Soci\u00e9t\u00e9 G\u00e9n\u00e9rale have finalised a \u20ac153m ($176.9m) financing deal for the Sand Solar Project, a 137MW-photovoltaic (PV) plant in Monreale and Gibellina, Sicily.<\/p>\n
This investment enhances EIB’s renewable energy efforts under the REPowerEU initiative and supports Italy’s national energy and climate plan for 2030.<\/p>\n
The EIB will contribute up to \u20ac70m, while Soci\u00e9t\u00e9 G\u00e9n\u00e9rale will provide up to \u20ac83.34m.<\/p>\n
Once operational, the plant is expected to generate around 256GW-hours (GWh) of renewable electricity each year, enough to power nearly 100,000 households.<\/p>\n
This output will also reduce CO\u2082 emissions by roughly 85,000 tonnes per annum (tpa) compared with fossil fuel generation.<\/p>\n
Construction is scheduled to begin in April 2026, with operations expected to start by mid-2027.<\/p>\n
EIB vice-president Gelsomina Vigliotti said: \u201cAccelerating the production of renewable energy is essential to reduce emissions, strengthen Europe\u2019s energy security and ensure a resilient and competitive economy.<\/p>\n
\u201cWith this new investment in Sicily, the EIB is supporting Italy\u2019s green transition while contributing to regional development and to the European Union\u2019s REPowerEU objectives.<\/p>\n
\u201cSand Solar demonstrates how the EIB\u2019s stable, long-term financing can accelerate high-impact clean energy projects and attract private investment.\u201d<\/p>\n
Operated by Peridot Solar, a FitzWalter Capital company with a focus on PV projects and energy storage in Europe, the Sand Solar Project aims to foster economic development and social cohesion in Sicily.<\/p>\n
FWC Solar (HOLDCO) Italy II, an entity led by Peridot, will receive the EIB’s loan to facilitate this investment.<\/p>\n
The plant is set to be constructed as part of a project that is fully permitted and ready for development, featuring a 5km underground 30kV line to a new 30\/220kV substation currently in progress.<\/p>\n
Peridot Solar CEO Javier Rubio said: \u201cWe are proud to collaborate with the EIB and Soci\u00e9t\u00e9 G\u00e9n\u00e9rale on the development of Sand Solar, a 137MW photovoltaic plant which, supported by a solid long-term financing structure, will increase renewable energy production in Sicily.<\/p>\n
\u201cThe project will significantly reduce CO\u2082 emissions, while further strengthening Peridot Solar\u2019s role as a key partner in Italy\u2019s energy transition.\u201d<\/p>\n
Advisors for the transaction include Dentons as the legal advisor to Soci\u00e9t\u00e9 G\u00e9n\u00e9rale and the EIB, BonelliErede for the EIB and ADVANT Nctm for Peridot.<\/p>\n
EOS Consulting is serving as the technical advisor and Marsh as the insurance advisor, with KPMG auditing the financial model.<\/p>\n
Arcus Financial Advisors is providing financial advice to Peridot, with Trotter Studio Associato handling tax and accounting advice for Peridot.<\/p>\n