Participated · Equity · Jan 2024

3Sun manufactures solar modules and is a subsidiary of the Italian utility Enel. The company is building a heterojunction (HJT) module assembly plant in Sicily, Italy. The plant currently has a 200 MW annual nameplate capacity of bifacial modules and is expected to expand to 3 GW of annual capacity by the end of 2024. 3Sun secured a large financing package to support the HJT manufacturing expansion. The financing includes loans and credit facilities and is supported by European and Italian public and private lenders. The project also benefits from a VAT credit of €85 million. Details on job creation were not provided in the articles but are widely expected to be around 300.