Italy's Asja Ambiente gets EIB loan for 238 MWp of home wind, solar

The European Investment Bank (EIB) said on Wednesday it had granted a loan of EUR 50 million (USD 53.5m) to support the construction of 238 MWp of solar and wind farms in Italy.

The borrower is Turin-based renewables developer Asja Ambiente Italia.

Asja Ambiente will use the funds for nine small and medium-sized solar PV and wind power projects located in Basilicata, Campania, Sardinia and Sicily. The firm seeks to build two wind farms in Basilicata and Campania, repower one wind farm in Sicily and build six solar plants in Basilicata, Sicily and Sardinia, the EU bank said.

The nine power plants will generate around 460 GWh of electricity per year once in operation. They all have to come online by 2027.

The EIB financing is backed by a budgetary guarantee under the European Union’s investment programme InvestEU, the lender said.

(EUR 1.0 = USD 1.069)

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