NORD/LB closes project financing for AIEM Green’s 75MW Italian solar portfolio
NORD/LB is acting as sole lender on the transaction, as well as mandated lead arranger, hedge provider, agent, and account bank. The financing will support the construction and delivery phase of the portfolio and reinforces NORD/LB’s continued commitment to supporting impactful renewable energy deployment in Italy, a core European market for the bank.
The portfolio comprises 21 ground-mounted solar PV plants located across Italy. Several of the projects are already under construction, with the first commercial operation dates expected in Q1 2026. The remaining sites are scheduled to reach commercial operation progressively into 2028. Once fully operational, the portfolio is expected to have the capacity to power approximately 45,000 Italian homes annually.
The deal incorporates a blended revenue structure with plants benefitting from a range of public incentive regimes(FER 19, FER X and the Agrivoltaic PNRR scheme) while other plants will operate on a merchant basis.
“We are proud to support AIEM Green and its sponsors with a financing structure that reflects both the quality of the portfolio and the growing role privately financed solar projects can play in delivering the energy transition,” said Cecile Luciano, Director at NORD/LB. “This transaction underlines NORD/LB’s continued commitment to supporting the expansion of renewable energy infrastructure across Europe. Italy remains a key market for us, with strong fundamentals and clear long-term policy ambitions under the PNIEC for solar deployment.”
“This transaction represents a key milestone for AIEM Green and confirms our commitment to developing innovative and sustainable energy projects. We are proud to be contributing to Italy’s energy transition through a portfolio that combines technological innovation, agricultural compatibility and long-term value creation,” said the AIEM Green management team, comprising Massimo Turri (Chairman), Elia Corrado Lubian (CEO), Diego Toti (General Manager) and Domenico Cambareri (CTOO).
Under Italy’s National Energy and Climate Plan, the country aims to reach 79GW of installed solar PV capacity by 2030. Achieving this target will require sustained investment across both utility-scale and distributed solar assets. This portfolio highlights the increasingly important role privately financed solar projects can play in supporting Italy’s decarbonisation objectives.
Deloitte Legal acted as legal adviser to NORD/LB on the transaction, while Gianni & Origoni acted as legal adviser to AIEM Green S.r.l.
