ContourGlobal is acquiring a group of companies with 20MW of operational solar photovoltaic plants in Italy from ErgyCapital.
The transaction has an enterprise value of €68m and will boost the US-based company’s European solar portfolio to 85MW.
The plants, located in the regions of Puglia, Piemonte, Lazio and Campania, are close to ContourGlobal’s existing Italian sites and benefit from approximately 12 more years of feed-in-tariff.
ContourGlobal chief operating officer Karl Schnadt said: “We are pleased to continue to expand our business in Italy where we have operated now for almost a decade.
“Our operating platform enables us to efficiently integrate these new facilities into our existing European renewable business.”
The purchase is expected to be completed next month, subject to conditions.
Image: Pixabay
