The European Investment Bank (EIB) has signed a €100 million green loan agreement with Iberdrola to fund the construction of a photovoltaic plant in Sicily, Italy. Set to become operational in 2025, the plant will be located in the provinces of Enna and Catania and will have a renewable energy generation capacity of 242.78 MWp. This capacity is projected to power approximately 154,000 households annually.
The EIB’s financing is partially supported by SACE’s Archimede Guarantee, which offers long-term market-based guarantees for financing and bonds, providing a boost to Italy’s competitiveness. This is the first collaboration between EIB and Iberdrola under the SACE-supported scheme.
This project aligns with the European Union’s REPowerEU initiative, which seeks to reduce reliance on Russian fossil fuels and accelerate the shift to clean energy. By supporting such renewable energy projects, the EIB aims to further the EU’s climate goals and enhance energy security across member states.
The EIB Group’s financing consistently prioritizes projects contributing to climate change mitigation, with more than half of its annual funding directed toward environmental and sustainability-focused initiatives.
| Picture by Caroline Martin for EIB on Wikipedia CCA SA 3.0 |
