Project Sophocles Secures Major Financing to Deliver Large Scale Solar and Battery Infrastructure Across Italy

Project Sophocles Secures Major Financing to Deliver Large Scale Solar and Battery Infrastructure Across Italy

(IN BRIEF) The European Investment Bank, Natixis CIB, and Sunprime Holdings have partnered on a €507 million project finance initiative to deliver Project Sophocles, a major renewable energy programme in Italy combining solar photovoltaic plants and battery storage systems. With up to €271 million in EIB financing, the project will develop around 200 solar installations and 350 MW of storage capacity, generating 416 GWh of electricity annually and significantly reducing carbon emissions. Designed to enhance grid flexibility and support renewable integration, the programme also contributes to Italy’s energy transition goals and the EU’s REPowerEU strategy. Beyond environmental impact, it is expected to create jobs and support local economies, while leveraging multiple revenue streams and benefiting from InvestEU backing. The initiative further strengthens the collaboration between the financing partners and reinforces Sunprime’s role in advancing distributed renewable energy solutions.

(PRESS RELEASE) LUXEMBOURG, 17-Mar-2026 — /EuropaWire/ — European Investment Bank (EIB), Natixis Corporate & Investment Banking, and Sunprime Holdings S.r.l. have agreed on a major project financing package in Milan to support the rollout of Project Sophocles, a large-scale renewable energy initiative combining solar photovoltaic generation with battery storage across Italy. The total financing could reach €507 million, with the EIB contributing up to €271 million.

Project Sophocles will enable the development of approximately 200 solar installations with a combined capacity of 290 MWp, alongside battery energy storage systems totalling 350 MW. By integrating distributed solar production with large-scale storage, the programme is designed to improve grid flexibility, facilitate the integration of renewable energy, and strengthen the overall resilience of Italy’s power system.

Once operational, the installations are expected to generate around 416 GWh of renewable electricity annually—sufficient to meet the needs of more than 160,000 households. Over its lifetime, the project is projected to reduce carbon emissions by approximately 2.86 million tonnes, supporting Italy’s decarbonisation objectives.

Sunprime Holdings S.r.l., an independent Italian power producer with expertise in distributed solar and storage, will lead the development and execution of the programme. The project builds on an existing collaboration between the EIB, Natixis CIB, and Sunprime, reinforcing confidence in the company’s ability to deliver large-scale renewable infrastructure on schedule and within budget.

The financing has been structured as a project finance operation, with Natixis CIB acting as Sole Underwriter, Structuring Mandated Lead Arranger, Bookrunner, Hedging Bank, Green Loan Coordinator, and Agent Bank. The project portfolio will be organised into multiple cross-collateralised clusters, each supported by the required grid connection infrastructure.

Revenue streams are expected to come from a combination of Italy’s Fer-X Contract for Difference scheme for solar energy, tolling arrangements, participation in capacity markets for battery storage, and exposure to wholesale electricity markets. The battery systems will play a critical role in delivering services such as frequency regulation, peak demand management, and grid congestion relief, reducing dependence on gas-fired generation.

The majority of installations will be located on industrial rooftops and previously developed or underutilised land, ensuring efficient land use and minimising environmental impact. In addition to environmental benefits, the programme is expected to create significant economic value, including around 1,400 person-years of employment during construction and approximately 120 permanent roles during operations.

The project is supported by the InvestEU programme, which is backed by an EU budget guarantee designed to mobilise large-scale investment in sustainable infrastructure across Europe. Project Sophocles contributes directly to Italy’s National Energy and Climate Plan targets for 2030, as well as the broader REPowerEU strategy aimed at accelerating the transition away from fossil fuels.

Implementation of the programme is scheduled between 2026 and 2028, with projects spanning multiple regions across Italy, including areas identified as priorities for economic development and energy transition investments.

Background information

The EIB Group  

The European Investment Bank (ElB) Group is the financing arm of the European Union, owned by the 27 Member States, and one of the largest multilateral development banks in the world. In 2025, the EIB Group signed €100 billion of new financing and advisory services for over 870 high-impact projects in eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and the bioeconomy, social infrastructure, strong global partnerships and the savings and investment union. Beyond long-term loans for large infrastructures, the EIB Group crowds-in private investment for high-risk innovative projects and businesses, with a growing role in Europe’s markets for venture debt, venture capital, guarantees and securitisations.

The European Investment Fund (EIF) is the subsidiary of the EIB Group specialised in providing guarantees and equity to improve access to finance for small and medium size businesses and startups across Europe. Acting as an anchor investor, through its extensive network of partnering banks and investment funds, the EIF mobilizes private investment and nurtures the ecosystem of venture capital funds to support innovative European entrepreneurs.

In 2023, the EIF together with six member states (France, Germany, Italy, Spain, Belgium and the Netherlands) launched the European Tech Champions Initiative, a fund of funds to scale-up innovative startups. As of February 2026, this initiative has already enabled the creation of 13 European venture capital mega-funds and scaled up 38 companies, including 11 unicorns (with more than €1 billion in capital).

Photos of the EIB Group’s spokespeople and headquarters, logo files and video B-roll for media use are available here.

Natixis Corporate & Investment Banking

Natixis Corporate & 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 organizations worldwide.

Our teams of experts in close to 30 countries advise clients on their strategic development, helping them to grow and transform their businesses, and maximize their positive impact. Natixis CIB is committed to aligning its financing portfolio with a carbon neutrality path by 2050 while helping its clients reduce the environmental impact of their business.

As part of Groupe BPCE, 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 Ratings: A+,R&I: A+).

Sunprime Holdings S.r.l.

Founded in 2020, Sunprime is a leading developer, constructor and operator of photovoltaic plants and battery energy storage systems (BESS) serving the industrial, agricultural and commercial segments. Headquartered in Milan, with a growing network of regional hubs, Sunprime operates through innovative models for the acquisition and enhancement of land and industrial rooftops, with a strong focus on project sustainability and on generating long-term value for local communities.

With a team of more than 160 professionals overseeing in-house all phases of development, construction and asset management, and supported by a solid and transparent financial structure, the company has secured over €763 million in project financing transactions with leading international financial institutions, including the European Investment Bank (EIB), Natixis CIB, Kommunalkredit Austria, KfW IPEX-Bank and Nord LB.

The company’s assets include photovoltaic plants, owned land and surface rights, with a total book value exceeding €257 million.

By the end of 2026, Sunprime will have connected 500 MWp of photovoltaic capacity and 250 MW of BESS, further strengthening its strategic role in Italy’s energy transition, supported by a REA-secured pipeline of over 1 GWp of solar capacity and more than 1 GW of BESS. The company is also committed to the development of advanced digital solutions, leveraging the integration of artificial intelligence, digital marketing and the automation of operational processes. sunprime.it

InvestEU

The InvestEU programme provides the European Union with long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps to crowd in private investment for the European Union’s strategic priorities such as the European Green Deal and the digital transition. InvestEU brings all EU financial instruments previously available for supporting investments within the European Union together under one roof, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEU Fund is deployed through implementing partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

Media contacts:

Enrico Possenti
e.possenti@eib.org
+352 4379 – 82144

Press Office
press@eib.org
+352 43791

SOURCE: European Investment Bank