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Eni, Qatar Petroleum mull joint bid for Italy's RTR - report

Solar panels in Italy. Photo by: Rete Rinnovabile Srl (www.rtrenergy.it).

May 25 (Renewables Now) - Oil and gas major Eni SpA (BIT:ENI) is preparing a joint bid with Qatar Petroleum for Italian solar power producer RTR Rete Rinnovabile, which was put up for sale by Terra Firma Capital Partners Ltd earlier this year.

Eni CEO Claudio Descalzi told Reuters today that the company’s renewables arm is working on a possible bid with Qatar Petroleum, without giving more details. Reuters noted that a transaction for RTR could fetch over EUR 1 billion (USD 1.17bn).

As previously reported by the news agency, Italian companies such as Enel SpA (BIT:ENEL), asset manager F2i SGR and energy group ERG SpA (BIT:ERG) were all interested in buying the RTR platform, which includes 134 solar parks with a combined capacity of 334 MW.

(EUR 1.0 = USD 1.165)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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