September 24 (Renewables Now) - TerniEnergia SpA (BIT:TER) has completed the sale of a 9.4-MW portfolio of solar photovoltaic (PV) plants in Italy to solar plant aggregation platform Mareccio Energia Srl, in partnership with LCF Alliance.
The 11 assets represent the first tranche of a larger portfolio of 22 solar parks with a combined capacity of 19.3 MW that TerniEnergia in June agreed to sell to Mareccio Energia. The 9.4 MW of power plants were offloaded for a cash amount of EUR 10.3 million (USD 11.3m), of which TerniEnergia will get EUR 9.5 million net, the Italian firm, part of Italieaf Group, said on Friday.
The deal includes the assumption of financial debt related to the power plants totalling EUR 17.9 million. As agreed earlier, TerniEnergia will continue to operate and maintain the plants for a period of three years.
The sale was carried out as part of TerniEnergia's Recovery and Relaunch plan for 2018-2022, aimed at restoring the financial and equity balance of the company.
(EUR 1.0 = USD 1.099)