European Energy selling 121.5 MW of Italian solar parks

Source: European Energy

January 17 (Renewables Now) - Danish renewables developer European Energy A/S on Friday said it has sold a 103-MW solar park in Italy to Iren Energia and is in the process of unloading another plant to the domestic multi-utility company.

Located in the southern region of Apulia, the Troia solar farm is equipped with more than 275,000 photovoltaic (PV) modules. According to European Energy, it is the largest PV complex in the country.

The transaction is European Energy’s largest sale to date of a single solar park, the company noted. The Danish firm is also selling an 18.5-MW solar plant in Palo, also in Apulia, to the same buyer. The facility was recently connected to the power grid.

Troia and Palo will be sold for a total consideration of EUR 166 million (USD 189.5m) in a deal seen to be completed during the current quarter.

“We see with this divestment that demand is high for more renewable energy, and we will continue to be at the forefront of green investments in both Italy and the rest of the world to accelerate the green transition,” said Knud Erik Andersen, CEO of European Energy.

European Energy intends to invest around EUR 800 million in the next four years to build more solar parks in Italy. Its development pipeline in the country nears 2 GW.

Under a strategic agreement with the Danish company, Iren Energia will be able to invest in 437.5 MWp of projects in the pipeline, located across four sites in Lazio, Sicily and Puglia. The investment will be possible during an exclusive period.

(EUR 1.0 = USD 1.141)

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