TerniEnergia closes sale of 11-MW solar portfolio to Sonnedix

Solar panels in Italy. Image by: TerniEnergia (www.ternienergia.com).

September 18 (Renewables Now) - Italy-based group TerniEnergia SpA (BIT:TER) said last week it has completed the sale of a portfolio of Italian solar parks totalling 11 MW to a unit of Sonnedix Power Holdings Ltd.

The particular portfolio includes 10 solar photovoltaic (PV) facilities with an enterprise value of EUR 31.3 million (USD 36.7m). Under the transaction, Sonnedix San Giorgio Srl acquired SPV Sonnergia Srl, the owner of the assets.

The total consideration for the deal is estimated at EUR 5.7 million, including the assumption of EUR 25.6 million in debt. Sonnedix, which is owned by institutional investors advised by JP Morgan Asset Management, paid EUR 4.9 million for the purchase following an adjustment related to a net working capital change. According to the press statement, the amount may be further adjusted following checks of the acquired business that will be completed in the next six months.

TerniEnergia is part of the Italeaf Group.

(EUR 1.0 = USD 1.171)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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