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TerniEnergia re-acquires stakes in Italian solar firms

Paleisheuwel PV plant. Source: TerniEnergia SpA. License: All Rights Reserved.

March 15 (Renewables Now) - Italian smart energy company TerniEnergia SpA (BIT:TER) said on Monday it has re-acquired the stakes in a trio of firms holding solar photovoltaic (PV) plants totalling 21 MW, thus paving its way for the potential sale of the assets.

The company said it has re-entered into possession of the 50% stakes in Energia Alternativa Srl and Solter Srl that it sold to London-based L&T City Real Estate Ltd a few years back. Energia Alternativa is the owner of 12 PV parks with a combined capacity of about 13.9 MW, while Solter holds four plants totalling 3.8 MW.

The respective value of the 50% stakes is EUR 6.1 million (USD 7.5m) and EUR 1.3 million. Following the transaction, TerniEnergia owns 100% of the two firms.

At the same time, the company re-acquired 45% of the shareholdings in Sol Tarenti Srl from Ranalli Immobiliare Srl, which bought the stake in 2014. The particular firm owns four PV parks with a combined capacity of 3.3 MW. The value of the minority stake is estimated at EUR 1.5 million.

TerniEnergia pointed out that these transactions enable the company to potentially sale the assets owned by the above mentioned firms.

(EUR 1.0 = USD 1.235)

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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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