First Reserve looks to sell 101-MW solar portfolio in Italy - report
Solar system in southern Italy. Author: Richard Allaway. License: Creative Commons, Attribution 2.0 Generic.
US energy infrastructure investor First Reserve has drawn several bids, each worth some EUR 100 million (USD 110m), for a 101-MW solar portfolio in Italy it has put up for sale, sources told Reuters.
According to one of the informed people, Tages Capital is among the bidders. Another source told the news agency that a joint venture between Enel Green Power and Italian infrastructure fund F2i could make an offer too. At the same time, Italy's Quercus Investment Partners had bid EUR 90 million but later dropped its proposal, a third source has said.
Among the assets being sold is the 70.5-MW San Bellino solar plant in the northeastern Veneto region, which is the country’s largest photovoltaic (PV) facility.
First Reserve will pick the winning bid by July 27. The company is being advised by Bank of America Merrill Lynch, Reuters said.