Altérra Invests €50M in Italy’s 1.4GW Solar Buildout

In a bold move toward accelerating Europe’s clean energy transition, ALTÉRRA, the United Arab Emirates’ $30 billion climate-focused investment platform, has pledged €50 million to Absolute Energy, an Italian renewable energy firm with ambitious expansion plans. The capital injection, made via ALTÉRRA’s Acceleration Fund and in partnership with global infrastructure investor I Squared Capital, is targeted at delivering a 1.4-gigawatt pipeline of solar and battery storage projects across Italy.

This investment marks a significant step in Italy’s journey toward its 2030 energy transition goals, which include adding 46GW of solar power capacity to the national grid. As Europe pushes forward on its decarbonization path, reducing dependency on imported fossil fuels has become not only a climate imperative but also a strategic priority. Italy, with its abundant sunshine and pro-renewable policy landscape, presents an ideal environment for scaling solar infrastructure. Absolute Energy, through its portfolio of small- to medium-scale, commercially viable solar projects, stands at the forefront of this momentum.

H.E. Majid Al Suwaidi, CEO of ALTÉRRA, expressed his enthusiasm for the partnership, underscoring the alignment between the fund’s climate mission and Absolute Energy’s expansion plans. “We are excited to support Absolute Energy as it enters its next phase of growth,” Al Suwaidi stated. “With a strong pipeline and deep sector expertise, the company will help drive Italy’s clean energy future. ALTÉRRA invests to accelerate the climate transition through innovative approaches and partnerships.”

Absolute Energy’s planned projects, which include both solar generation and battery storage systems, are expected to avoid approximately 380,000 metric tons of carbon dioxide equivalent (CO₂e) emissions each year. This reduction in greenhouse gases contributes not only to Italy’s national emissions targets but also to broader EU climate goals under the European Green Deal. The projects are strategically designed to leverage Italy’s streamlined permitting processes and guaranteed access to the power grid, making the solar rollout more efficient and scalable.

The €50 million investment is more than just a financial commitment—it is a signal of confidence in the transformative potential of clean energy platforms that combine local expertise with institutional capital. I Squared Capital’s involvement further strengthens this initiative, given the firm’s robust track record in infrastructure development and renewable energy investments worldwide. Al Suwaidi emphasized the importance of such partnerships, noting, “In working with a global leader like I Squared Capital, with their strong track record in platform building and investing in renewables, this investment further demonstrates how ALTÉRRA works with partners to invest at scale to accelerate impact across key markets.”

This 1.4GW solar and storage pipeline is just the beginning. Absolute Energy is also exploring a broader 6GW development pipeline, which, if realized, could significantly amplify Italy’s solar capacity and sustainability credentials. The initiative also supports the EU’s REPowerEU plan, aimed at boosting Europe’s energy independence and climate resilience by 2030.

The collaboration between ALTÉRRA, I Squared Capital, and Absolute Energy exemplifies a growing trend in climate finance, where sovereign-backed funds and private investors coalesce to deploy large-scale capital for renewable infrastructure. ALTÉRRA, launched to strategically direct UAE capital into global climate initiatives, is rapidly expanding its footprint, from Europe to Asia. The fund recently made headlines for a $100 million investment in India’s Evren to support clean energy development, further solidifying its role as a major player in the global energy transition.

For Italy, the benefits of this solar buildout extend beyond emissions reductions. Investments in renewable energy create local jobs, improve energy security, and reduce electricity costs over the long term. As geopolitical tensions and volatile fossil fuel markets continue to impact global energy systems, homegrown renewable capacity offers a path toward resilience and stability.

With the ALTÉRRA-Absolute Energy partnership now officially underway, Italy’s solar future looks brighter than ever. The deal underscores how targeted climate investments can unlock scalable, impactful solutions, bridging the gap between environmental goals and practical infrastructure development. As Italy gears up to meet its 2030 targets, this initiative sets a strong precedent for what international collaboration in clean energy can achieve.