July 3 (Renewables Now) – French private equity investor Ardian has purchased a controlling stake in Tolve Windfarms Holding, the owner of a 37.2-MW wind project portfolio in Italy.
In a press release on Thursday, Ardian said it has made the investment through a dedicated capital increase, taking an 80% interest in the target entity. The stake was acquired from Italian renewable projects developer PLC System Srl, part of local construction firm PLC Group SpA, for an undisclosed amount.
PLC System, together with a private investor, will own the remaining 20% of Tolve Windfarms, which owns special purpose vehicles for the construction of three wind parks in Tolve municipality, Potenza province. PLC System will hold the remaining 20% interest until construction of the plants is completed.
Construction of the three projects, with a combined capacity of 37.2 MW, is expected to begin this month and finish in the second half of 2018. Once operational, the wind farms will receive a feed-in tariff (FiT) of at least EUR 66 (USD 75.3) per MWh for a 20-year period. Their output will be fed into the national power grid.
Ardian has been active in Italy’s renewable energy market since 2007 and has1 GW of installed capacity worldwide, including wind, solar, biomass and biogas.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.