The EIB and Societe Generale have signed a €153 million financing package for the 137 MW Sand Solar photovoltaic plant in Sicily. The project, developed by Peridot Solar, will generate 256 GWh annually and aligns with Italy's 2030 energy and climate plan.
According to official disclosures, the European Investment Bank (EIB) and Societe Generale have finalized a €153 million financing agreement for the Sand Solar project, a 137 MW photovoltaic plant in the Sicilian municipalities of Monreale and Gibellina. The project is expected to produce approximately 256 GWh of renewable electricity per year, sufficient to power nearly 100,000 households and avoid about 85,000 tonnes of annual CO₂ emissions compared to fossil fuel-based generation.
The project will be developed and operated by Peridot Solar, a portfolio company of FitzWalter Capital specializing in photovoltaic and storage assets across Europe. The beneficiary is FWC Solar (HOLDCO) Italy II S.R.L., receiving a €70 million EIB loan.
The fully permitted project includes a 5 km underground connection line to a new substation. Construction is scheduled for April 2026, with commercial operation targeted for mid-2027. This development matters because Sicily is an EIB cohesion region where green infrastructure investment is a priority. The project includes biodiversity protection zones and ecological corridors.
For renewable energy developers, equipment suppliers, and EPC contractors, this signals continued utility-scale solar momentum in southern Italy under REPowerEU and Italy’s PNIEC framework. Investors should monitor FIT mechanisms and grid integration timelines.
The EIB is the European Union’s long-term lending institution focused on climate and infrastructure investment.
Societe Generale is a major French banking group.
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