(Alliance News) - Privredna Banka Zagreb, Intesa Sanpaolo Group's subsidiary in Croatia, has participated in the financing of the "Solis" project to create three new solar power plants with a total capacity of 30 MW.

The EUR35 million investment is financed by a EUR21.2 million syndicated loan organized by EBRD and PBZ: with a 50% ticket in the loan, PBZ is the only commercial bank involved in the transaction and also acts as Agent, Security Agent and Account Bank.

The project supports the European energy transition strategy by strengthening the renewable energy sector in Croatia, as well as its overall energy independence, in line with Intesa Sanpaolo Group's ESG goals.

In addition, two of the three solar power plants under construction are located on the island of Bra?, thus supporting the European Commission's "Clean Energy for EU Islands" plan for greater energy resilience of the islands.

Intesa Sanpaolo's stock is in the red by 1.4 percent at EUR2.53 per share.

By Chiara Bruschi, Alliance News reporter

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