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Origis Energy offloads 41-MW of solar plants in Italy, Slovakia to VEI-Foresight JV

Solar park in Italy. Author: Solar Farm - Solar energy power plants. License: Creative Commons, Attribution 2.0 Generic

November 22 (Renewables Now) - Florida-based Origis Energy USA on Thursday said it had sold 41 MW in solar power capacity in Italy and Slovakia to ForVEI II, the joint venture between VEI Green Srl and  Foresight Group LLP, for an undisclosed amount.

The deal includes 34 ground-mounted solar photovoltaic projects in Italy with a total capacity of 37 MW and a 4-MW ground-mounted solar farm in Slovakia. The solar facilities are in full operation since 2010-2011 and are part of a long-term Feed-in Tariff scheme awarded by the Gestore dei Servizi Energetici (GSE).

Speaking about the acquisition, Federico Giannandrea of London-based investment manager Foresight, said that this is the first significant purchase for ForVEII after its launch in 2018, adding, "we have a strong pipeline of projects for the Fund and significant interest from other investors."

ForVEI II, which is the second vintage of Foresight and VEI Green's investment platform JV, specialises in buying renewable energy infrastructure assets in Europe. 

Greentech Capital Advisores advised Origis Energy on the deal.

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Before joining Renewables Now, Alex was a UK-focused business news reporter. Now she is covering global news from the renewable energy industry with a special interest in M&A.

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