ALTÉRRA, the United Arab Emirates’ $30bn climate investment platform, has committed €50m via its Acceleration Fund to Absolute Energy, an Italian renewable energy developer.
The investment, made in partnership with global infrastructure manager I Squared Capital, aims to accelerate the buildout of 1.4GW of solar and battery storage projects across Italy.
Absolute Energy specialises in small to medium-scale solar developments, capitalising on Italy’s favourable regulatory environment, which includes streamlined permitting and guaranteed grid access.
This initiative supports Italy’s national goal to add 46GW of solar capacity by 2030, enhancing energy security, reducing import reliance, and supporting net-zero ambitions.
“With a strong pipeline and deep sector expertise, the company will help drive Italy’s clean energy future,” said H.E. Majid Al Suwaidi, CEO of ALTÉRRA. “ALTÉRRA invests to accelerate the climate transition through innovative approaches and partnerships.”
Sadek Wahba, Chairman and Managing Partner of I Squared Capital, added, “Their investment underscores the strength of the platform and the scale of the opportunity in accelerating Italy’s energy transition.”
Beyond the initial 1.4GW rollout, Absolute Energy has a wider pipeline exceeding 6GW. ALTÉRRA estimates that the first phase alone could eliminate up to 380,000 metric tons of CO₂ equivalent emissions annually.
“This partnership is a powerful endorsement of Absolute Energy’s innovative model and I Squared’s long-standing approach to building transformational infrastructure businesses in critical sectors around the world,” Wahba said.
This deal underscores Italy’s potential in solar infrastructure, driven by high irradiation and strong policy support. It also marks another milestone in ALTÉRRA’s global strategy to catalyse climate-positive projects through co-investments.
