Italian KREnergy completes sale of 2.98 MW solar plants
Aug 8, 2013 - Italian renewable energy company KREnergy SpA (BIT:KRE) said on Wednesday it had completed the sale of three photovoltaic plants in Italy with total installed capacity of 2.98 MW to real estate investment fund Perseide Energie.
KREnergy sold the plants of its subsidiary Coser Srl to the Perseide Energie fund, entirely subscribed by Gruppo Cattolica Assicurazioni (BIT:CASS), for a total amount of EUR 9.1 million (USD 12.1m).
The plants are located in the southern Italian region of Apulia.
The finalisation of this transaction will allow KREnergy to launch investments and development of new plants and to complete the construction of the two hydropower plants in Tuscany the company purchased on July 30, a statement read. Besides, KREnergy will use the income from the sale of the solar plants to acquire an authorisation in geothermal power, a sector in which the group will focus in line with its strategy.
(EUR 1 = USD 1.334)