| Project Detail |
The loan will finance a multi-year investment programme in small-scale solar photovoltaic plants (PV), across multiple sites in Italy. The PV plants total approximately 280 MWp, combined with 80 MW (4-hour) battery energy storage systems (BESS), and an additional 270 MW (4-hour) of standalone BESS. Objectives The aim is to produce and store electricity from low-carbon sources, PV and BESS plants. As such, the project addresses the market failure of under-investment in clean energy generation due to the non-internalisation of the climate and environmental externalities. The project also supports EU Renewable Energy objectives and supports Italy in meeting its commitments with respect to renewable energy (RE) targets (65% RE by 2030) and greenhouse gas emission reductions, set out in the Integrated National Energy and Climate Plan (INECP) revised after the publication of the EU Green Deal. Solar PV plants contribute to the progression of the national and EU energy and climate goals, namely decarbonising electricity production in the EU and decreasing the reliance on fossil fuels. The project is therefore eligible under Article 309 point (c) common interest. Furthermore, certain regions where the portfolio of plants will be developed are classified as EIB Cohesion Priority Regions, thus contributing to developing less-developed regions. The investment programme is expected to be economically justified, as it will generate economic benefits, notably in terms of climate action, by stepping up investments in renewable energy, the creation of economic activity, as well as CO2 emission reductions. Sector(s) Energy - Electricity, gas, steam and air conditioning supply Proposed EIB finance (Approximate amount) EUR 200 million Total cost (Approximate amount) EUR 400 million |
