Terra Firma preps 332-MW solar business sale for Jan - report

London-based buyout firm Terra Firma Capital Partners Ltd is preparing to kick off in January the sale of RTR Rete Rinnovabile, an Italian solar power producer with 332 MW of generation capacity, Reuters reports.

Sources have told the news agency that Terra Firma has been working with advisors, including UniCredit, JPMorgan and Jefferies, on a potential transaction for the past nine months. According to the informed people, a deal involving all of RTR’s solar assets could fetch between EUR 1 billion (USD 1.19bn) and EUR 1.2 billion.

The sources have added that EF Solare Italia, a joint venture between utility Enel SpA (BIT:ENEL) and infrastructure fund F2i, will be the front runner in the race to buy RTR. Enel’s own renewables head previously told Reuters that the JV would be considering a transaction.

Investment funds such as Quercus and Tages, Italian sector player ERG SpA (BIT:ERG) as well as Canadian pension funds and Chinese investors are also looking at the assets, separate sources have informed Reuters.

(EUR 1.0 = USD 1.185)

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