Enel Solar Gigafactory Secures $608 Million Financing to Expand Production Capacity
January 24 2024 - 9:33AM
Dow Jones News
By Nina Kienle
Enel's Italian solar gigafactory secured a 560 million-euro
($607.9 million) financing package from the European Investment
Bank and a pool of Italian banks to expand production capacity.
Enel Green Power's 3Sun, located in Catania, Sicily, is seeking
to expand its production capacity to 3 gigawatts a year by the end
of 2024 from 200 megawatts, the European Investment Bank said
Wednesday. As a result, 3Sun will become Europe's largest solar
factory.
The financing comes the European Investment Bank, supported by
InvestEU and various Italian banks such as UniCredit, BPER Banca
and Banco BPM.
The photovoltaic cell and modules production gigafactory is set
to generate enough clean energy production capacity to supply the
equivalent of 1 million households a year.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
January 24, 2024 10:18 ET (15:18 GMT)
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