European Energy has agreed to sell two Italian solar parks with a combined capacity of 121.5MW to Iren Energia.
The Danish developer is selling the 103MW Troia Solar Park in Apulia near Foggia and the recently grid-connected 18.5MW Palo project in a €166m deal.
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The two solar parks have a combined output of 180 GWh per year.
The transaction is expected to close during the first quarter of 2022.
European Energy has also entered into a strategic partnership with Iren on a 437.5MW pipeline of development phase projects across Lazio, Sicily and Puglia.
Iren will have an exclusive period in which to invest in the four sites, of which 38.8MW is already authorised.