Weekly renewables M&A round-up (May 23-27)
May 27, 2022 17:26 CESTCCE-Enernovum JV sells project rights to 254-MW of solar in Italy
Solar park in Italy. Author: Solar Farm - Solar energy power plants. License: Creative Commons, Attribution 2.0 Generic
November 26 (Renewables Now) - Austria-based solar developer CCE Group GmbH and its German peer Enernovum GmbH & Co KG, through their joint venture (JV), have sold rights to 254 MW of PV projects in Italy, CCE has announced.
The buyer is a “renowned European investor” in infrastructure projects, the Austrian firm said, adding that financial terms are being kept confidential under a mutual agreement between the parties.
The unnamed investor acquired a portfolio of ten solar PV projects. CCE and Enernovum are handling the development in house until the projects are ready to be realised, CCE added.
No other details were disclosed.
In October, the CCE-Enernovum JV secured a loan from lender Kommunalkredit Austria AG to support the development of 14 PV projects totalling 600 MW in Italy. The loan, which CCE later revealed to amount to EUR 12 million (USD 13.5m), was to be used to fund the permitting process for the portfolio, the lender’s advisor said at the time.
(EUR 1.0 = USD 1.127)
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