German utility E.ON has offloaded its solar business in Italy to private infrastructure investment fund F2i SGR.
The Milan-based fund manager already has considerable experience in the solar power business in Italy.
The activities E.ON (FWB: EOAN) sold comprise a total generating capacity of 49 MW and consist of seven ground mounted solar plants that were constructed between 2010 and 2013.
E.ON spokesperson Markus Nitschke told Power Engineering International, “We are withdrawing from the Italian market and are selling our assets step by step. (At the same time, E.ON has announced that it will strengthen its solar business, although currently no specific investment decisions have been taken.”
The solar plants are located in areas with high irradiation and benefit from favourable solar regimes providing stable cash flows in the long-term. About 70 per cent of the capacity is installed on Sardinia.
The purchase price was not disclosed.
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