GreenIT Secures €370 Million Financing for Italian Renewable Projects

GreenIT, the renewable energy joint venture backed by Eni’s Plenitude (51%) and CDP Equity (49%), has finalized a €370 million project finance agreement to accelerate the development of its Italian greenfield portfolio. The financing will support new onshore renewable projects scheduled for completion by 2028, aligning with the company’s target of reaching 1GW of installed capacity by 2030.

The deal is structured in line with the Green Loan Principles, ensuring proceeds are dedicated to sustainable investments. The European Investment Bank (EIB) provided the largest share of the financing with €220 million—€180 million in direct loans and €40 million via financial intermediaries. Additional backing came from major European lenders including BNP Paribas, Crédit Agricole, ING Bank, and Societe Générale.

“This strategic transaction strengthens GreenIT’s financial structure, providing new resources to support the investments planned for the next few years by our ambitious industrial plan,” said CEO Paolo Bellucci. “The strong confidence shown by the lending institutions reinforces GreenIT’s strategic vision to play a key role in Italy’s energy transition.”

Founded in 2021, GreenIT is tasked with developing, building, and operating renewable energy plants across Italy. The company plays a central role in supporting Italy’s Integrated National Energy and Climate Plan (PNIEC) for 2030, which aims to expand the share of renewable power generation as part of the EU’s broader decarbonization strategy.

The latest financing underscores rising investor appetite for renewable infrastructure in Europe, particularly in Italy, where growing electricity demand and EU decarbonization targets are driving strong momentum for green investments. GreenIT’s pipeline of onshore projects is expected to contribute meaningfully to Italy’s renewable capacity buildout, reinforcing the country’s progress toward meeting its climate goals.

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