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A2A buys 173 MW of grid-parity solar in Italy

Italian power provider A2A has acquired a 173 MW PV plant portfolio from U.K.-based Octopus Renewables for €205 million.

“The asset is the largest merchant portfolio of plants in Italy, without GSE incentives, of which [the solar projects] nine are located in Lazio and eight in Sardinia,” the company said, without providing more details on the 17 solar plants.

The portfolio includes a 40 MW solar plant in Assemini, near Cagliari, on Italy’s largest island, Sardinia, for which a five-year PPA was secured by Octopus with Italian renewable energy trader EGO Group in April 2018, and 66 MW of operational plants in Montalto di Castro, central Italy. The four solar plants were commissioned in March of 2017 and are also selling power through PPAs to the EGO group.

Through this transaction, which must still be approved by the Italian authorities, the PV plant portfolio owned by A2A will grow to 284 MW. In March 2018, it acquired five operational PV plants with a combined power of 15.7 MW in Italy from U.K.-based Impax Asset Management Group plc.

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In October 2017, A2A took over 17.8 MW of Italian solar plants, all of which are located in the Marche region, central Italy, from local renewable energy developer Novapower, a unit of local industrial group Merloni Holding. Earlier, in September, A2A also acquired another 17 MW of PV plants from local fund Fondo Re Energy Capital.

More recently, the company also signed a deal to buy a 1 GW solar development pipeline from Chinese PV module maker Talesun, as part of its push to start building subsidy-free solar projects.

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Source: pv magazine