Aega seeks to buy two more solar parks in Italy

Solar system in southern Italy. Author: Richard Allaway. License: Creative Commons, Attribution 2.0 Generic.

November 16 (Renewables Now) - Norwegian renewables investment firm Aega ASA (OSE:AEGA) has reached an exclusivity agreement to boost its portfolio with the potential acquisition of two unidentified solar farms in Italy with a combined capacity of 1.3 MW.

After tabling the non-binding offer, Aega said on Monday that it is now under an exclusivity period to carry out technical and legal due diligence on the assets.

Depending on the outcome of the checks, a binding transaction could be inked in the first quarter of 2022. Aega said that it will at that point publish information on the financial details of the deal.

The solar farms are located in central Italy, in close proximity, and have the same owner.

Aega added that it is currently in negotiations with several other owners for the potential purchases of more solar parks in Italy.

"We look positive on our deal flow in Italy, and are on track to double our portfolio and reach the 10 MW target set out for 2022," Aega CEO Nils P. Skaset said.

The Norwegian renewables investor, which focuses on smaller operating Italian solar parks, acquired five local assets in the first quarter of 2021. The parks, including three in Sardinia, have a combined capacity of 5 MWp, the company's website shows. Aega also owns a minority stake in Norwegian solar developer Norsk Solar.

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