Europe’s biggest solar gigafactory 3Sun secures €560 million financing from EIB and pool of Italian banks led by UniCredit and backed by SACE

Backed by SACE and provided by Sumitomo Mitsui Banking Corporation, this is the first SACE “Push” Deal in the Philippines

The MoU focuses on providing financing support for cooperation between Italian companies in the private sector and PIF and its portfolio companies It represents a continuation of PIF’s strategy to build and maintain strong relationships with leading international financial institutions and further diversifies its range of financing instruments The MoU will contribute to facilitating Italian companies’ businesses with Saudi Vision 2030 projects

The collaboration, for an amount up to 250 million dollars, aims to facilitate the exports from Italy and the internationalization of Italian companies and develop projects in Middle East and Africa, focusing on strategic sectors such as renewable energy production, water and desalination, green ammonia and green hydrogen production.