Sonnedix buys 80-MW solar farm in Italy, more purchases to follow
Sep 19, 2024 14:32 CESTThe European Investment Bank (EIB) on Monday announced the signing of a number of deals for the provision of more than half a billion euros in green transition loans in Europe and Africa, including funds supporting renewables.
In Italy, EIB has granted a loan of EUR 460 million (USD 516.6m) to local multi-utility group Hera SpA (BIT:HER) to back a variety of activities including renewable energy production, the provision of integrated water services, energy efficiency, decarbonisation, as well as waste processing and collection.
The authorised loan, part of the REPowerEU initiative, will finance more than 60 projects undertaken by the Hera Group, mainly taking place in Emilia-Romagna, but also in other areas served such as Veneto and Friuli-Venezia Giulia. Particularly in the energy sector, the loan will support the development of solar photovoltaic (PV) power plants, including small-scale installations, and deployment of second-generation smart meters to improve energy efficiency.
In the meantime, EIB has agreed to provide a loan of EUR 100 million to boost development and the green transition of small and medium-sized enterprises (SMEs) and mid-caps in North Macedonia in cooperation with the local development bank and commercial lenders.
“This credit line will support private sector investments in energy efficiency, renewable sources of energy and the circular economy. It will provide opportunities for the economic development of North Macedonia while contributing to a sustainable, net-zero carbon future,” commented EU Ambassador to North Macedonia David Geer.
As per Africa, EIB is committing up to USD 40 million to Acre Impact Capital’s innovative private debt fund, Export Finance Fund I, to speed up climate infrastructure investment across the continent. The financial commitment relates to renewable power, health, food and water scarcity, as well as sustainable cities and green transport.
In its statement, EIB noted that by providing specialist funding for this tranche, Acre Impact Capital’s fund could mobilise USD 5.6 of private sector capital for each dollar invested.
(EUR 1.0 = USD 1.123)
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