Italian renewables company ERG, through its subsidiary ERG Solar Montalto, has acquired a majority stake in two photovoltaic plants in central Italy.
Under the terms of the deal ERG Solar Montalto has acquired, from Soles Montalto, a 78.5% stake in a company managing two PV farms with an overall installed capacity of 51.4MW.
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The assets are located in Montalto di Castro, in Lazio. The value of the deal is €221m.
Soles Montalto is an investment fund managed by European renewables asset manager AREAM.
As part of the transaction terms Soles Montalto will remain a minority shareholder in Perseo, which owns the company managing the two solar assets.