€97 Million Investment to Boost Sicily’s Renewable Energy with New Wind Farm

€97 Million Investment to Boost Sicily’s Renewable Energy with New Wind Farm

(IN BRIEF) The European Investment Bank (EIB) and Natixis CIB are providing €97 million in financing to Libeccio S.r.l. for a new wind farm in Mazara del Vallo, Sicily. With a capacity of 44.8 MW, the wind farm will provide renewable energy for over 56,000 households by 2026. The project will also refinance the existing Vento di Vino 1 wind farm and create more than 270 jobs during construction. This initiative supports the EU’s REPowerEU plan and aims to boost renewable energy while promoting economic growth in Sicily.

(PRESS RELEASE) LUXEMBOURG, 17-Sep-2024 — /EuropaWire/ — In a move to support Italy’s renewable energy transition, a consortium led by the European Investment Bank (EIB) and Natixis Corporate and Investment Banking (Natixis CIB) has provided €97 million in financing to Libeccio S.r.l. for the development of a new wind farm in Sicily. The project, set to be completed by 2026, will have an installed capacity of 44.8 MW, enough to supply clean energy to over 56,000 households annually.

The financing includes €42 million from the EIB and €55 million from Natixis CIB, supporting both the construction of the new wind facility, Vento di Vino 2, and the refinancing of existing debt for the operational Vento di Vino 1 wind farm. This initiative aligns with the EU’s REPowerEU plan and broader Green Deal objectives, which aim to increase renewable energy production while reducing reliance on fossil fuels.

The project is also expected to create more than 270 jobs during the construction phase, providing a significant economic boost to the region of Sicily. As part of its commitment to the green transition, Natixis CIB acted as the sole underwriter and structured the financing as a green loan, reinforcing its role in Italy’s renewable energy sector.

EIB Director Alessandro Izzo highlighted the significance of the project, stating that it not only advances renewable energy production but also promotes economic growth in rural areas. Leaders from FERA Group and Byom S.r.l., the companies behind Libeccio, emphasized their pride in contributing to Italy’s energy transition through sustainable practices and strong partnerships with international financial institutions.

This new wind farm project marks another step in Italy’s path toward a more sustainable and eco-friendly energy system.

Background information

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It finances sound investments that can contribute to EU policy. EIB projects strengthen competitiveness, foster innovation, promote sustainable development and improve social and territorial cohesion while supporting a fair and rapid transition towards climate neutrality. In the past five years, the EIB Group has provided more than €58 billion in financing for projects in Italy.

Natixis Corporate and Investment Banking is a leading global financial institution that provides advisory, investment banking, financing, corporate banking and capital markets services to corporations, financial institutions, financial sponsors and sovereign and supranational organisations worldwide. Its teams of experts in 30 countries advise clients on their strategic development, helping them to grow and transform their businesses, and maximise their positive impact. It is committed to supporting the green transition by aligning its financing balance sheet with a 1.5 °C trajectory by 2050. As part of the Global Financial Services division of BPCE Group, the second-largest banking group in France through the Banque Populaire and Caisse d’Epargne retail networks, Natixis CIB benefits from the group’s financial strength and solid financial ratings (Standard & Poor’s: A+, Moody’s: A1, Fitch: A+, R&I: A+).

Libeccio is owned by FERA Group (81.55%) and Byom (18.45%).

FERA Group is steadfastly committed to generating electricity from renewable sources efficiently, sustainably and in complete harmony with local areas and communities. It has been operating in the renewable energy sector since 2001, selling electricity produced from wind power, biogas and small hydro, with plants in Liguria, Lombardy, Tuscany, Sicily and Sardinia. Launched in 2016, the Ricarica company manages an electrical vehicle charging service with 100 charging points, offering energy at the most competitive prices on the market. In June 2023, the town of Vado Ligure in the province of Savona saw the opening of the first public Ricarica Station in Italy. It is directly connected to the Rocche Bianche wind farm, and features charging points providing up to 350 kW of power for electric trucks and cars. FERA Group operations are fully aligned with nationally and internationally recognised best practice criteria.

Byom is an investment and consulting company operating mainly in the renewable energy and infrastructure market. Formed 15 years ago, the company relies on a team of over 20 professionals with relevant experience and complementary skills in the industrial, energy, infrastructure and consultancy sectors. Byom currently manages more than 250 MWp of renewable energy plants and 39 special purpose vehicles as technical and financial asset manager. In 2019, it began to develop renewable energy plants on its own account and on behalf of third parties, with a total capacity of more than 500 MWp. Since 2021, it has been a leader in the energy autonomy and energy communities sector via its Fusion subsidiary. It oversees the entire value chain from the feasibility study phase to the construction and operation of the plants, with a pipeline of approximately 16 MWp.

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SOURCE: European Investment Bank