The European Investment Bank (EIB) and Societe Generale have entered into a €153 million financing agreement to fund the 137 MW Sand Solar project in Sicily, Italy. The facility being developed by Peridot Solar is expected to generate 256 GWh of renewable electricity annually, sufficient to power approximately 100,000 households. The plant construction is slated to begin in April 2026 while it is expected to reach commercial operation by mid-2027.
Additionally, the project features a construction-ready design including a 5 km underground 30 kV connection line linking to a new 30/220 kV substation. Peridot Solar’s project company, FWC Solar (HOLDCO) Italy II s.r.l., will receive a €70 million EIB loan to facilitate the investment. The transaction is supported by Dentons, BonelliErede, and ADVANT Nctm for legal, alongside EOS Consulting, Marsh, and KPMG. Furthermore, the project aligns with the REPowerEU initiative and Italy’s 2030 climate goals, while specifically supporting economic cohesion in the Sicilian region.
In March 2026, EIB Global, the development arm of the EIB, entered into a €200 million financing agreement with Vietnam Technological and Commercial Joint Stock Bank (Techcombank). The financing will enable Techcombank to expand lending towards green projects in sectors such as renewable energy, energy efficiency, and sustainable transport.