October 31 (Renewables Now) - The Milan-based arm of Independent power producer Building Energy has agreed to sell nine solar photovoltaic (PV) plants of its Italian portfolio to Italian SR Investimenti S.r.l.
The portfolio, developed and managed by Building Energy, consists of 7.5 MWp rooftop PV plants located in Lombardy, Marche and Emilia-Romagna regions. The solar systems are operational since 2012 and benefit from the GSE incentive scheme. As part of the agreement, Homes, the O&M subsidiary of Building Energy, will continue providing O&M services to the plants.
Milan-based independent advisory boutique Prothea acted as exclusive financial advisor to the seller while the buyer was supported by law firm Gianni, Origoni, Grippo, Cappelli & Partners (GOP) as legal advisor, by E&Y as financial and tax advisors, by Moroni &Partners as technical advisor and by Wide Group for insurance matters.
SR Investimenti is owned and financed by Pioneer Point Partners and Longspur Capital, two international funds that invest exclusively in infrastructure opportunities in the energy sector. The Italian company is working towards a target of 100 MW of owned existing plants while also co-developing 300 MW of new capacity i market parity conditions.