Funding to Canadian Solar for 12 large photovoltaic systems in Italy

Intesa Sanpaolo has finalized a 55 million euros revolving loan in favor of Canadian Solar, one of the largest companies in the world operating in the photovoltaic sector, to finance the construction in Italy of 12 large plants for the production of solar power in Sicily, Puglia and Lazio, with a total installed capacity of 151 MW.

Once up and running, they will produce approximately 287 GWh of solar energy per year, equal to the annual electricity consumption of over 57,000 people, with a reduction in CO2 emissions of 73,384 tons.

Thanks to our leadership in the Italian photovoltaic credit facility market, we are committed to actively contributing to the achievement by our country of the objectives set by the European Union for the transition to a carbon-neutral economy by 2050.

Mauro Micillo, Head of the Corporate and Investment Banking Division of Intesa Sanpaolo and CEO of Banca IMI