en.Wedoany.com Reported - Société Générale and the European Investment Bank have signed a €153 million financing agreement for the construction of a 137MW solar PV project in Italy.

The Sand Solar project will be built in Sicily, southern Italy, by Peridot Solar, an Italy- and UK-headquartered independent power producer. Peridot expects to start construction this month, with the project set to benefit from a new 30kW connection line to a 30/220kV substation currently under development. The IPP expects the project to begin commercial operations in mid-2027.

Enrico Chiapparoli, head of Société Générale Italy, said: "This transaction demonstrates Société Générale's ability to rapidly execute its mandate while maintaining the highest banking and sustainability standards. It's an excellent example of how strong sponsors and aligned financial partners can work together to achieve tangible progress in the energy transition."

The EIB is participating in the transaction with a €70 million loan, having earlier this year also financed a solar-plus-storage portfolio in Italy. In its 2024 National Energy and Climate Plan, Italy expects solar PV to be a key component of its energy transition, targeting 44.1GW of operational capacity by 2025 and 79.3GW by 2030. The latter figure would account for over half of the country's renewable operational capacity.

However, by the end of 2025, Italy fell slightly short of its target, with transmission system operator Terna's data showing 43.5GW of operational capacity at year-end and fewer installations in 2025 than the previous year. The government has sought to accelerate capacity additions through its Fonti di Energia Rinnovabile (FER X) auction, which awarded 474 solar PV projects with a total capacity of 7.69GW.

Earlier this year, trade body SolarPower Europe highlighted in an exclusive interview with PV Tech Premium that the FER X auction was a key driver for the growth of solar capacity awarded via government auctions in Europe in 2025.

Leaders in the European solar industry are turning their attention to this year's SolarPlus Europe event, organized by PV Tech publisher Solar Media, taking place in Italy on April 15-16.

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