EIB and Iberdrola Partner on €100M Green Loan for Sicilian Solar Plant

The European Investment Bank (EIB) and Iberdrola, backed by SACE’s Archimede guarantee, have signed a €100 million green loan agreement to build a new photovoltaic plant in Sicily, Italy. This initiative supports the European Union’s climate goals and marks the EIB’s first collaboration with Iberdrola under SACE’s guarantee. The plant, located in the provinces of Enna and Catania, is set to become operational by 2025, with a generation capacity of 242.78 MWp—enough to supply renewable energy to approximately 154,000 Italian households annually.

The project exemplifies sustainable development, integrating advanced technologies to ensure high energy efficiency and minimal environmental impact. Additionally, the plant’s construction and operation will create jobs in local communities, fostering economic growth in the region. With 70% of the financing secured through SACE’s Archimede guarantee, this initiative also highlights an innovative model for competitive, long-term investments. The partnership between the EIB, SACE, and Iberdrola establishes a foundation for replicating similar renewable energy projects in the future.

EIB Vice-President Gelsomina Vigliotti said: “The EIB remains a key partner for Italy in the renewable energy sector. The EIB plays a key role in attracting foreign investors to the country to promote environmental sustainability, social cohesion and economic growth”.

Alessandra Ricci, CEO of SACE, said: “We are proud to partner with the EIB and Iberdrola for this landmark investment in the renewable energy sector in Sicily, a project that will not only boost productivity and competitiveness, but also create new job opportunities. To this end, since the launch of the Archimede guarantee last June, we have approved more than 4.9 billion in operations to boost Italy’s growth potential”.

Valerio Faccenda, CEO of Iberdrola Italia: “Thanks to this EIB loan and SACE’s support of Iberdrola, we will continue to promote Italy’s energy transition with a project that will bring clean energy to 154,000 households”.