February 13 (Renewables Now) - Italian energy company ERG SpA (BIT:ERG) has finalised the acquisition of a 78.5% stake in the owner of two solar parks at home with a combined capacity of 51.4 MW.
ERG’s portfolio of installed solar photovoltaic (PV) capacity in Italy has thus increased to 140 MW, the energy firm said on Tuesday. It carried out the latest transaction through its subsidiary ERG Solar Montalto Srl, which bought the specific interest in Italy-based Andromeda PV Srl from investment fund Soles Montalto GmbH. The latter is controlled by renewables asset manager AREAM Group and will be a minority quotaholder in the entity.
The two solar parks, using SunPower technology, are located in Lazio region, central Italy, and have been generating power since 2010. They are being supported through the Secondo Conto Energia incentives through 2030.
The deal grants ERG full industrial control of the asset and the right to completely consolidate it. Additionally, it will enable ERG to become one of the five top PV operators on the Italian market, it said.