Octopus Renewables to sell 173-MW solar portfolio in Italy to A2A

Octopus Renewables, the clean energy investment arm of the Octopus Group, has agreed to sell 173 MW of zero-subsidy solar projects in Italy to local utility A2A SpA (BIT:A2A) at an equity value of EUR 205 million (USD 248m).

The transaction involves nine projects located in the Lazio region, just north of Rome, plus eight sites on the island of Sardinia.

Matt Setchell, co-head of Octopus Renewables, said that the clean energy investor has managed the construction, financing and power price hedging of the particular portfolio over the past five years. He also noted that the project sites are suitable for the addition of energy storage components and hydrogen infrastructure.

Rothschild & Co was the financial advisor of Octopus Renewables, while Linklaters and Moroni & Partners consulted the seller on legal and technical matters, respectively.

(EUR 1.0 = USD 1.211)

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