The Italian solar power market, which has an existing capacity of 18 GW, is set for major consolidation.

Clean Energy Pipeline reports that Europe’s second largest market has stagnated somewhat since solar subsidies were effectively scrapped in 2013.

There is now a sizeable legacy of Feed in Tariff (FiT)-backed assets ready for consolidation in Italy according to the website which notes interest from investors including Quercus Asset Selection, SUSI Partners, Tages Group, F2i, Cubico Sustainable Investments etc.
Solar panels
London-based equity investment fund Basalt Infrastructure Partners II LP also announced the establishment of Marceccio Energia, a new renewable energy platform aimed at specifically aggregating ‘small-scale operational Italian solar parks’.

Basalt’s interest stems in part in the majority of installed solar being either individually owned or in small portfolios.

Rob Gregor, Managing Partner of Basalt Infrastructure Partners LLP told the site, “We are excited by the opportunity to establish this scalable platform as it enables us to aggregate assets in what is a very fragmented market.

“Mareccio also provides us with the opportunity to build on a successful operational relationship from our first Fund which will help us deliver additional operational value over the life of the assets. The transaction expands upon the team’s existing, successful involvement with solar energy through McEwan Power in the United Kingdom and Hyperion in the United States.”

Mareccio Energia has an initial target to acquire 100 MW of solar assets and has so far entered into transaction documents to acquire about 30 solar sites, with ‘further acquisitions scheduled for Q4 2017’.

On the buy-side, Quercus Asset Selection, US power firm ContourGlobal, Glennmont Partners, Macquarie European Infrastructure Fund 4/Renvico, Ardian Investment, and Enel Green Power all made purchases of both solar and wind assets.

Furthermore, Italian investment firm Tages Capital SGR was able to reach final close on its solar fund (Tages Helios) in June at €250m.