Spain's Everwood Capital buys 66-MWp solar project in Italy

Spanish investment manager Everwood Capital has acquired a 66-MWp solar PV project in Sicily, its first in Italy.

In a post on its social media channels, the firm said it had bought the project from Spanish developer TW Solar for its Everwood Fund IV. Financial details of the transaction were not disclosed.

The solar farm will be located in the municipality of Troina, in the Sicilian province of Enna. The project will use bifacial panels mounted on 1-axis tracking system, Everwood Capital said.

Connection rights and land in Troina have been secured. The fund manager expects the finalise the permitting process by the end of 2023 and start construction immediately.

“The acquisition of this project in Sicily represents an important milestone for Everwood as it marks the beginning of our international expansion,” said Jose Antonio Urquizu, founding partner of Everwood Capital.

The firm expects Italy to become one of its core strategic markets. Urquizu said that Everwood Capital has “an attractive pipeline of international projects” under review and expects to close the agreements in the coming months.

The acquisition in Italy comes after Everwood Capital secured an investment commitment from the European Investment Fund (EIF) for its Fund V, which is packed with some 1 GW of solar projects in Spain and eyeing the Italian and Portuguese markets as well.

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