Capital Stage to buy 26.7-MWp of solar parks in Italy

Dec 24, 2014 - German solar and wind park operator Capital Stage AG (ETR:CAP) said Tuesday it has agreed to purchase 26.7 MWp of solar parks in Italy for some EUR 30 million (USD 36.5m).

As part of the deal, Capital Stage will acquire and operate six solar plants in the region of Friuli from German power plant project developer GP Joule, which will be providing technical support to the facilities.

The existing project financing from UniCredit and Bayern LB will be taken over by Capital Stage, as well, it said.

The solar parks were hooked to the grid between February and September 2013. They operate under Italy’s feed-in tariff (FiT) programme, receiving an average of EUR 0.124 per kWh.

Capital Stage noted that the acquisition and the overall expansion of its portfolio was made possible by the recent EUR-150-million partnership with German insurer Gothaer Group.

Capital Stage will own 58 MWp of renewable energy capacity in Italy following the purchase, it added. Globally, it has a power production portfolio of 390 MWp.

(EUR 1.0 = USD 1.217)

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