CCE Solar Invest, a joint venture between CCE Group and Enernovum, has obtained funding for a portfolio of 14 solar farms totaling 600 MW in Italy. Kommunalkredit Austria has provided a three-year loan for projects in Lazio, Tuscany, and Apulia. This funding was granted with the goal of gaining authorization and completing the necessary authorization procedures so that the portfolio projects can be ‘ready to develop’ by the second quarter of 2022. Watson Farley & Williams, a law company, advised Kommunalkredit, which specialises in infrastructure and energy financing with a focus on constructing sustainable infrastructure.

CCE Solar Invest develops and finances solar project and boasts of a global portfolio of about 1 GW. In September 2021, it signed an agreement with Volksbank Niederösterreich AG to secure financing for a 10 MW solar project portfolio in Austria, comprising of a number of commercial rooftop PV installations.

Recently, the Italian energy agency Gestore dei Servizi Energetici (GSE) invited the seventh round of tenders for renewable energy projects in Italy. The agency aims to allocate 3,312 MW capacity of renewable projects, which will include both solar and wind energy. The final results of the tender are likely to be announced by January 28, 2022.

REGlobal’s Views: Italy’s National Energy and Climate Plan has set very ambitious targets for renewables by 2030, aiming to reach 30 per cent in total energy consumption and 55 per cent in electricity generation. This will require about 40 GW of new renewable capacity, mostly wind and solar to be deployed by 2030.