$678,481,000,000

Renewable Energy (GERE) intends to develop approximately 360MW of photovoltaic and agrivoltaic solar developments in a range of regions in Italy. GERE has identified sixteen potential plant locations and has entered into discussions with landowners and local regulatory authorities. The total loan request is €370M. Construction and completion of the sixteen plants is expected within 36 months of funding. GERE will enter into off-take agreements with Italy’s certified electric power brokers which will guarantee the cash-flows and profits for this project. Italy has historically high energy and economic efficiency with a significant share of renewable energy and natural gas in the energy mix and one of the lowest emissions per capita in Europe (1). In 2021, renewable energy sources constituted 40% of Italy's electricity generation. Italy has among the highest solar potential of European countries enabling it to replace further its electricity generated from natural gas with renewable solar generation capacity. The southern regions of Italy have the highest solar generation capacity. The Italian government has made renewal energy a national priority and has pledged support for this project.