BAKU, Azerbaijan, April 9. The European
Investment Bank (EIB) and Societe Generale have signed a €153
million financing agreement to support the construction and
operation of the Sand Solar project, a 137 MW photovoltaic plant in
Sicily, Trend
reports.
The project, located in the municipalities of Monreale and
Gibellina, forms part of the EIB’s expanded support for renewable
energy under the REPowerEU initiative and contributes to Italy’s
2030 National Energy and Climate Plan (PNIEC).
Once operational, the plant is expected to generate around 256
GWh of electricity annually, supplying nearly 100,000 households
and reducing carbon emissions by approximately 85,000 tonnes per
year compared to fossil fuel-based generation. The project will
also contribute to regional development in Sicily, one of Italy’s
cohesion regions, and will incorporate biodiversity protection
zones, ecological corridors and landscape integration measures
agreed with local authorities.
The project will be developed and operated by Peridot Solar, a
portfolio company of FitzWalter Capital focused on photovoltaic and
energy storage projects across Europe. The project company, FWC
Solar (HOLDCO) Italy II s.r.l., will receive a €70 million loan
from the EIB as part of the financing package.
Construction is scheduled to begin in April 2026, with
commercial operations expected by mid-2027. The project includes a
5 km underground 30 kV connection line linked to a new 30/220 kV
substation currently under development.
Advisors to the transaction include Dentons, BonelliErede,
ADVANT Nctm, EOS Consulting, Marsh, KPMG, Arcus Financial Advisors
and Trotter Studio Associato.
