San Marino’s public utility is inviting investors to sell solar assets or development-stage companies under a new program aimed at increasing domestic renewable generation and long-term energy security.
From pv magazine Italia
San Marino, a small European republic enclaved within Italy, is seeking to acquire ground-mounted PV projects in a bid to reduce its reliance on imported electricity.
Azienda Autonoma di Stato per i Servizi Pubblici (AASS), the country’s public utility, has launched a call for expressions of interest to purchase companies holding PV assets in San Marino or Italy. Projects may be operating, under construction, or ready to build, provided they are commissioned by Dec. 31, 2026. The maximum value per project is €15 million.
AASS said it is targeting full ownership of special purpose vehicles holding project rights, permits, and related assets for solar plants. The initiative is open to both domestic and international investors.
The program aims to increase domestic energy security and expand the share of electricity generated from renewable sources, while improving long-term price stability.
The move is aligned with San Marino’s National Energy Plan for 2023-26, which highlights the country’s dependence on imported electricity. According to the notice, solar covered about 12% of annual electricity demand as of Dec. 31, 2025.
AASS also cited projections from the 2023 National Sustainable Development Strategy indicating that domestic generation could reach 15% by 2027, mainly through solar PV deployment. To meet remaining demand, the country may also pursue investments outside its borders, including in Italy.
Eligible projects include ground-mounted solar installations with fixed-tilt or tracker systems, operational plants, near-completion assets, ready-to-build projects, and special-purpose vehicles holding project rights and permits. Battery storage can be included, but standalone storage projects are not eligible.
All projects must be operational by Dec. 31, 2026, and applicants must already hold the necessary permits and preliminary agreements securing project assets.
AASS has set a cap of €15 million per project. Proposals exceeding this limit will not be considered.
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