European Investment Bank and Société Générale Back €153M Solar Project in Sicily

The European Investment Bank (EIB) and Societe Generale have signed a €153 million (US$179 million) financing agreement to support the construction and operation of the 137 MW Sand Solar plant located in the municipalities of Monreale and Gibellina in Sicily, Italy.

Once operational, the facility is projected to produce approximately 256 GWh of clean electricity annually—sufficient to supply nearly 100,000 homes—while preventing about 85,000 tonnes of CO₂ emissions each year compared to conventional fossil fuel generation. The project will be developed and managed by Peridot Solar, a portfolio company of FitzWalter Capital, which focuses on solar power and energy storage projects across Europe. The €70 million loan from the European Investment Bank will be provided to FWC Solar (HOLDCO) Italy II s.r.l., the project entity under Peridot’s control. The plant will be constructed as a fully permitted, ready-to-build project and will feature a 5 km underground 30 kV cable connection linked to a new 30/220 kV substation currently under development. Construction is set to commence in April 2026, with operations expected to begin by mid-2027.

The transaction advisors are: the global law firm Dentons (legal advisor to Societe Generale and the EIB), BonelliErede (legal advisor to the EIB), ADVANT Nctm (legal advisor to Peridot), EOS Consulting (technical advisor), Marsh (insurance advisor), KPMG (financial model auditor), Arcus Financial Advisors (financial advisor to Peridot) and Trotter Studio Associato (tax and accounting advisor to Peridot).