N-Sun Energy, the investment vehicle created by Alantra Solar and Solarig, has secured EUR 355 million in green financing from Intesa Sanpaolo to fund the development and construction of a 275 MWp portfolio of five solar plants in Italy. Additionally, the vehicle has closed a EUR 50 million 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 is described as one of the fastest-growing solar development platforms in Europe.

Project Portfolio and Geographic Distribution

The financing provided by Intesa Sanpaolo 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 increase Italy's renewable energy generation capacity, with commercial operations expected to commence by the end of 2027. The projects represent part of N-Sun Energy's broader 1.8 GW solar platform in Southern Europe.

Financial Structure and Banking Arrangements

The financing is structured under a holdco project finance format and includes long-term loan facilities, a VAT facility, a debt service reserve line, and guarantees for power purchase agreements (PPAs) 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.

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 each company's specific needs.

Platform Development and Investment Progress

This financing marks a new milestone in N-Sun Energy's roadmap to becoming one of the leading solar energy platforms in the region. It follows the EUR 213 million 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 the announcement date, the vehicle has already acquired 597 MWp of capacity.

Javier Mellado, Managing Partner of Alantra Solar, commented on the development: "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."

The announcement was made on November 6, 2025, from Madrid, representing a significant step forward in N-Sun Energy's expansion across Southern Europe's renewable energy sector.

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