September 20 (Renewables Now) - Italy’s TerniEnergia SpA (BIT:TER) said on Wednesday it has agreed with Renewable European Investment Italy 3 (REI III Srl) to end their 50/50 partnership in four solar companies, owning 3.3 MW of assets.
Under the agreement, TerniEnergia will transfer to REI III the 50% held by the Italian company in Investimenti Infrastrutture Srl and Infocaciucci Srl, which together hold 1.6 MW of solar capacity. The parties have determined a value of EUR 1.2 million (USD 1.4m) for the deal. Once it is completed, REI III will be the sole owner of the two solar firms.
At the same time, TerniEnergia is acquiring REI III's 50% stakes in Societa Agricola Fotosolara Oristano Srl and Societa Agricola Fotosolara Bonnanaro Srl for EUR 0.9 million. Together, these companies have a combined solar portfolio of approximately 1.7 MW.
The deal is subject to typical suspensive and termination conditions for this type of transaction.
(EUR 1 = USD 1.17)