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Tages exclusively negotiates buy of Glennmont solar assets in Italy - report

Solar farm. Author: Alan Levine.

November 27 (Renewables Now) - London-based renewable energy fund manager Glennmont Partners is exclusively negotiating the sale of its 85-MW solar portfolio in Italy to investment fund Tages, Reuters reports, quoting two sources.

The parties are currently holding exclusive talks, which, according to one of the insiders, will go on for up to 15 days. The person has added that a deal is not likely to be signed before January.

Italian regional utility A2A SpA (BIT:A2A) and energy company ERG SpA (BIT:ERG) have also submitted binding offers for the three solar parks put up for sale by Glennmont, according to the report.

Sources previously told Reuters that the portfolio could fetch around EUR 350 million (USD 396m).

(EUR 1.0 = USD 1.131)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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