F2i, Asterion join hands to buy Italian energy co Sorgenia

Sorgenia's Termoli combined-cycle power plant. Image by: General Electric (www.ge.com).

January 6 (Renewables Now) - Italian infrastructure fund F2i and Spain’s Asterion have agreed to buy Italian energy group Sorgenia, which is the owner of 3.17 GW of power generation assets, including solar.

This was recently announced by Nuova Sorgenia Holding, which controls Sorgenia. The parent company said the duo's bid has been accepted by its board of directors but did not give financial details in the press release.

According to unnamed sources quoted by Reuters, the offer of F2i and Asterion values Sorgenia at around EUR 1 billion (USD 1.12bn). The Italian firm meanwhile said that the deal will give it exposure to over 400 MW of wind and biomass assets, giving it a push in the renewables sector.

The acquisition quest for Sorgenia included proposals from 20 groups that had filed initial expressions of interest, Reuters reports. Among them are domestic utilities A2A SpA (BIT:A2A) and Iren SpA (BIT:IRE) and Czech EPH. 

(EUR 1.0 = USD 1.117)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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