EIB, Natixis CIB, Sunprime Launch €507M Solar and Storage Project in Italy
- The project involves €507 million to develop 200 solar plants and 350 MW of storage in Italy.
- The European Investment Bank will provide up to €271 million in financing.
- The project aims to generate 416 GWh annually and reduce CO₂ emissions by 2.86 million tonnes.
- Investments will be implemented between 2026 and 2028 across several Italian regions.
Project Overview
Project Sophocles, a €507 million initiative, aims to develop around 200 solar photovoltaic plants totaling 290 MWp and 350 MW of battery-energy storage systems across Italy. The European Investment Bank (EIB) will provide up to €271 million in financing.
Environmental Impact
Once operational, the project is expected to generate 416 GWh of renewable electricity annually, enough to power over 160,000 Italian households. It is projected to avoid approximately 2.86 million tonnes of CO₂ emissions over its lifetime.
Implementation and Structure
The project will be structured into 6 to 12 cross-collateralised clusters, supported by necessary grid-connection infrastructure. Investments will be implemented between 2026 and 2028 across several Italian regions, including cohesion regions.
Socio-Economic Benefits
Construction activities are expected to generate around 1,400 person-years of temporary employment, while operations will create approximately 120 permanent full-time equivalent jobs. The program supports local industries, supply chains, and energy-cost resilience for businesses.
Source: EIB