European Energy sells two solar PV plants in Italy to Iren Energia
Danish renewables developer European Energy announced the sale of two solar PV parks to Italian multi-utility company Iren Energia with a total energy capacity of 121.5 MW which will produce approximately 180 GWh of green energy per year.
The two projects comprise the operating 103 MWp Troia solar park, which was the largest solar park ever built in Italy at the time of its completion covering 1,500,000 sq. meters, and the recently grid-connected solar park of 18.5 MW in Palo, both located in the Apulia region in Italy and sold to Iren Energia in the same agreement.
The closing is expected to take place during Q1-2022 and the value of it will be EUR 166 million (DKK 1.24 billion).
Knud Erik Andersen, CEO of European Energy said:
“The sale of Troia Solar Park – our largest to date of a singular solar park – will cement the strong performance that our company has had in Italy over the past years, says Knud Erik Andersen, CEO of European Energy. We see with this divestment that demand is high for more renewable energy, and we will continue to be at the forefront of green investments in both Italy and the rest of the world to accelerate the green transition.”
European Energy holds an Italian pipeline of almost 2 GW capacity and reports to be ready to invest approximately EUR 800 million in Italy in the next four years to develop and construct other projects.
Apart from the divestment of Troia and Palo, Iren Energia and European Energy have also entered into a strategic agreement on the development pipeline of European Energy, equal to a total of 437.5 MWp distributed over four sites in Lazio, Sicily, and Puglia, of which 38.8 MWp already authorized, which provides for the possibility for Iren Energia to invest, in an exclusive period and at various stages of development in the pipeline by exercising certain rights.
Source: Press release by European Energy A/S. Photo credit: European Energy A/S.
