€2 million financing from UniCredit for the construction of the "Livia" photovoltaic plant (3.5 MWp) in the province of Pavia
Construction of the plant will begin in January 2026, with testing and commissioning scheduled for June 2026.
Bologna – GreenGo Srl, an Italian renewable Independent Power Producer (IPP), and UniCredit announce the completion of a project financing transaction for the construction of the "Livia" photovoltaic plant, located in Pieve Albignola (PV) and developed through the special purpose vehicle Sunflow Srl. With an installed capacity of 3.5 MW, the plant represents a new milestone in the growth of the company, which is currently committed to transforming its pipeline of over 1.7 GW into concrete projects serving the national energy transition. To date, GreenGo has authorised a capacity of 694 MW of renewable energy plants and greenfield BESS with the aim of exceeding the threshold of 800 MW RTB by April 2026.
Four solar projects are currently under construction, totalling 18.8 MW, which will increase to eight, totalling 50.9 MW, in the first quarter of 2026.
The 'Livia' project
The "Livia" plant is a symbolic project for GreenGo, located on a disused quarry site, representing a virtuous example of territorial regeneration using photovoltaic technology and the team's ability to carry out complex operations in synergy with local institutions and stakeholders. Livia's business model is based on the incentive tariff awarded under Ministerial Decree FER 1 by the GSE, which will support the business plan for the first 20 years of the plant's operation.
Construction of the plant will begin in January 2026, with testing and commissioning scheduled for June 2026.
When fully operational, the plant will produce 5,865 MWh per year, equivalent to the consumption of approximately 2,170 Italian households, enabling emissions savings of approximately 1,584 tonnes of CO₂.
UniCredit, thanks to the synergy between the Bologna Corporate Area and Corporate Lending structures of the Central-Northern Region, supported the project with a mortgage loan of €2.15 million.
Andrea Burchi, UniCredit Regional Manager for Central-Northern Italy, comments:
This loan accompanies a project designed to support the country's energy transition and is a virtuous example of territorial regeneration. This is an operation that makes us doubly proud, because in addition to facilitating a valid business growth strategy, it allows us to make a concrete contribution to strengthening a key sector such as energy production from renewable sources. This confirms UniCredit's commitment to promoting increasingly sustainable business, with technological innovation and environmental protection as its main drivers.
Tailor-made financing for the realisation of the pipeline
With this transaction, we are consolidating our ability to attract financing from blue-chip credit institutions such as UniCredit. We thank UniCredit for having created a tailor-made, streamlined product suitable for small to medium-sized investments. UniCredit's support demonstrates the financial system's confidence in our approach to investment project design, trusting in the solidity of our organic growth model as a driver for developing a profitable long-term partnership
said Lorenzo Nardon, CFO of GreenGo.
About GreenGo
GreenGo, founded in 2018 as a start-up, has quickly achieved significant milestones, led by Giuseppe Mastropieri and driven by the exceptional skills and strong dedication of its constantly growing team of high-profile professionals and managers: the company now has more than 50 employees and collaborators, as well as exclusive partners throughout the country.
The partnership with the Eiffel Essentiel fund, launched in 2022 with a capitalisation of €7 million and renewed with a €15 million equity bridge in 2023, has accelerated GreenGo's growth, positioning the company as a leader in the Italian and Southern European landscape of utility-scale RES plant development, as well as pursuing independent energy production, the primary objective of the current business plan.
Since September 2023, GreenGo has been based in the new S/PARK - Sustainability Workplace green hub, located at Via G. Matteotti 31/2 in Bologna. The facility, conceived and designed by Fimm S.R.L., represents a significant redevelopment of an architectural site of artistic and urbanistic importance and stands as a benchmark for the Italian green economy, hosting the Group's activities and opening to companies, professionals and institutions.
About UniCredit
UniCredit is a pan-European commercial bank with a unique service model in Italy, Germany, Central and Eastern Europe. Our primary goal is to give our communities the levers for progress, offering the best to all stakeholders and unlocking the potential of our customers and our people across Europe.
We serve over 15 million customers, who are at the heart of everything we do in all our markets. UniCredit is organised into four main geographical areas and three product factories: Corporate, Individual and Group Payments Solutions. This allows us to be close to our customers, leveraging the scale of the Group to offer a comprehensive range of products.
Digitalisation and our commitment to ESG principles are key factors in the service we offer. They help us deliver excellence to our stakeholders and create a sustainable future for our customers, communities and people.