N-Sun Energy, the investment platform established by Alantra and Solarig, has secured €355 million in green financing from Intesa Sanpaolo to support the development and construction of a 275 MWp portfolio comprising five solar plants in Italy. The portfolio spans solar photovoltaic and solar agrivoltaic projects located in Lazio (Ischia di Castro), Puglia (Lecce and Minervino Murge), and Sicily (Catania I and II).
Furthermore, all projects are expected to commence commercial operations by the end of 2027. Additionally, the platform has finalised a €50 million corporate financing facility with Bankinter, backed by CESCE. This facility will enable the completion of N-Sun Energy investment programme and strengthen its capital structure.
The green financing package is structured under a holdco project finance format and includes long-term loan facilities, a VAT facility, a debt service reserve line, and guarantees associated with power purchase agreements and decommissioning. Intesa Sanpaolo, through its IMI Corporate & Investment Banking Division, acted as the mandated lead arranger, underwriter, bookrunner, global coordinator, agent bank, and green loan coordinator.
