Renewable Energy Finance: Enel's 3Sun Gigafactory Secures EUR 560 Million for Solar Expansion

published on 25 January 2024


Did you know that in Sicily, a remarkable transformation is underway? Here, a factory unlike any other is taking shape, marking a significant step towards a sustainable future. Backed by a substantial $608.68 million (€560 million) in financing, the 3Sun gigafactory stands ready to make a profound impact on the energy landscape. Join us as we delve into this monumental project and its far-reaching implications for our planet.

Financing the Future:

The 3Sun gigafactory, a beacon of hope for renewable energy, has secured a substantial $608.68 million (€560 million) financial package, marking a significant milestone in Europe's energy transition. This collaborative effort, led by UniCredit and a consortium of Italian banks, alongside the European Investment Bank (EIB) and backed by SACE Green guarantees, paves the way for a massive expansion. By 2024, the gigafactory's production capacity will skyrocket from 200 MW to 3 GW, supplying clean energy to ~1 million households. This financial infusion is a testament to the growing commitment to sustainable energy sources and a strategic move to reduce Europe's reliance on gas imports and Chinese solar components.

Technological Innovation and Impact:

At the heart of 3Sun's success lies its groundbreaking technology. The gigafactory isn't just expanding in size; it's revolutionizing solar energy production. Utilizing high-performance bifacial photovoltaic modules capable of capturing sunlight from both sides, 3Sun stands as the world's most automated photovoltaic panel production plant. Operating non-stop, this facility is a marvel of continuous innovation, contributing significantly to the European Union's ambitious goal of producing 600 GW of solar energy by 2030. By fostering next-generation solar technology, 3Sun is not only enhancing Europe's green energy capacity but also promoting economic growth and job creation in Sicily.

A Step Towards Energy Independence:

The 3Sun gigafactory is more than just a manufacturing plant; it's a strategic move towards Europe's energy independence and a key player in the REPowerEU mission. With its substantial production capacity, the facility significantly contributes to reducing Europe's dependence on external energy sources. The gigafactory's role in restoring the photovoltaic value chain within Europe is crucial, particularly in the current global context of seeking alternatives to traditional energy sources. By championing innovative solar technology and contributing to a diversified energy portfolio, 3Sun is not just a factory but a symbol of Europe's resilient and sustainable future.


The 3Sun gigafactory in Sicily stands as a monumental achievement in Europe's journey towards a greener, more sustainable future. Its impact extends beyond energy production, signaling a shift in how we approach renewable resources and energy independence. As we witness this solar revolution, let's embrace the possibilities it unfolds for a cleaner, more sustainable world. Join the conversation and explore more about this and other green initiatives on our website.

The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.

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