N-Sun Energy, a solar development platform created by Alantra Solar, signed a €355 million (~$408 million) green financing agreement with Intesa Sanpaolo, through its Italian subsidiary N-Sun Energy Advisors Italy 2.
In addition, the company secured a €50 million (~$57 million) corporate financing facility with Bankinter, guaranteed by CESCE, to complete N-Sun Energy’s investment program and strengthen the platform’s financial structure.
The funding provided by Intesa Sanpaolo will be used for the development and construction of a 275 MWp portfolio of five photovoltaic and agrivoltaics projects across Italy. The portfolio includes solar projects located in Lazio, Puglia, and Sicily. The projects are expected to reach commercial operation by the end of 2027. Once operational, the projects will significantly contribute to Italy’s renewable energy generation capacity.
The financing package, structured under a holdco project finance format, includes long-term loan facilities, a VAT facility, a debt service reserve line, and guarantees related to power purchase agreements and decommissioning.
Intesa Sanpaolo acted as mandated lead arranger, underwriter, bookrunner, global coordinator, agent bank, and green loan coordinator.
Javier Mellado, Managing Partner of Alantra Solar, said, “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.”
Large-scale project funding in the first nine months of 2025 increased by 43% compared with the same period in 2024, according to Mercom’s 9M and Q3 2025 Solar Funding and M&A report.
In November 2025, Headwater Energy, a utility-scale solar and energy storage development firm, secured $144 million construction financing for its 112.5 MWdc Gum Swamp solar project in North Carolina, arranged by BridgePeak Energy Capital and funded in part by Pathward.
