As stated by the EIB, 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.

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. 

As stated on the company's website (translated with DeepL.com), Sunprime is an independent renewable energy producer that is developing sustainable photovoltaic installations throughout Italy, focusing on the commercial and industrial (C&I) segment, ground-mounted installations on industrial land, and industrial electricity storage systems (Battery Energy Storage Systems).

Following management's initial investment, since 2021 the company has raised more than €90 million in equity from Nofar Energy, an international renewable energy company listed on the Tel Aviv Stock Exchange (NOFR) with a market capitalization of about €1 billion, with about 1.5 GW of renewable energy assets in Europe and the United States, and Noy Fund, Israel's largest and most important infrastructure fund with nearly €3 billion in assets under management.

To date, Sunprime is one of the most successful renewable energy operators in the GSE's DMFER tenders, with more than 240 MW of projects being awarded the GSE's CfD tariff, and more than 150 MW in operation. The company's goal by 2027 is to realize 1 GW of PV and BESS plants by investing an additional €500 million.

Sunprime's project pipeline currently consists of over 250 MW of construction-ready projects, including 180 MW under construction, and over 500 MW under development.
The company's goal by 2026 is to realize 500MW of PV Plants and 500MW of BESS.

No project contacts provided at the time of disclosure.

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