Alantra Solar secures €400mn in financing to accelerate N-Sun Energy’s 1.8 GW solar portfolio in Italy

• N-Sun Energy, Alantra and Solarig’s investment vehicle, has secured €355mn in green financing from Intesa Sanpaolo to fund the development and construction of a 275 MWp portfolio of five solar plants in Italy
• In addition, the vehicle has closed a €50mn corporate financing facility with Bankinter, guaranteed by CESCE, to complete the investment in N-Sun Energy
• The combined financing will reinforce N-Sun Energy’s role in driving the energy transition in Southern Europe, with all plants expected to be operational by the end of 2027

N-Sun Energy, one of the fastest-growing solar development platforms in Europe, created by Alantra Solar, has signed a €355mn green financing agreement with Intesa Sanpaolo, through its Italian subsidiary N-Sun Energy Advisors Italy 2 S.r.l.

In parallel, it has secured a €50mn corporate financing facility with Bankinter, guaranteed by CESCE. This facility will provide the necessary resources to complete N-Sun Energy’s investment program and strengthen the platform’s financial structure.

The financing provided by Intesa Sanpaolo (IMI CIB Division) will fund the development and construction of a portfolio of five photovoltaic and agrivoltaic plants across Italy with a combined capacity of approximately 275 MWp. The portfolio comprises strategically located projects in Lazio (Ischia di Castro), Puglia (Lecce and Minervino Murge), and Sicily (Catania I & II). Once operational, these plants will significantly contribute to Italy’s renewable energy generation capacity, with commercial operation expected to commence by the end of 2027.

Structured under a holdco project finance format, the financing package includes long-term loan facilities, a VAT facility, a debt service reserve line, and guarantees related to power purchase agreements (PPA) and decommissioning. Intesa Sanpaolo acted as Mandated Lead Arranger, Underwriter, Bookrunner, Global Coordinator, Agent Bank, and Green Loan Coordinator, reinforcing its commitment to supporting projects aligned with the Green Loan Principles.

Additionally, the bespoke financing solution crafted by Bankinter’s Investment and Corporate Banking teams will further support Alantra Solar in developing its assets in Italy. The operation reflects Bankinter’s continued commitment to sustainability and its expertise in designing tailored financing solutions that meet the specific needs of each company.

Javier Mellado, Managing Partner of Alantra Solar, said: “This financing highlights the strength of the partnership between Alantra and Solarig in advancing one of the most ambitious solar energy platforms in Europe. It marks another milestone towards delivering N-Sun Energy’s 1.8 GW portfolio and confirms the strong commitment of leading investors to our strategy. We remain dedicated to developing renewable projects that combine scale, sustainability, and long-term value creation for our investors and the communities in which we operate.”

As part of N-Sun Energy’s broader 1.8 GW solar platform in Southern Europe, the financing marks a new milestone in its roadmap to becoming one of the leading solar energy platforms in the region. It follows the €213mn secured for the construction of seven solar plants as part of the first 306 MWp batch in January last year, located both in Spain and Italy. The vehicle, managed by Alantra Solar, continues to acquire ready-to-build plants developed by Solarig, supported by key investors Reichmuth Infrastructure and Amundi Energy Transition. As of today, the vehicle has already acquired 597 MWp.