ABO Energy KGaA has agreed to sell its Argentine portfolio to the Novva Group. The portfolio comprises renewable energy projects in the development stage with a total capacity of 3.17 gigawatts. The transaction is expected to be finalized as part of a confirmatory due diligence process in a share purchase agreement (SPA) in the next few months.
Novva is a platform specializing in data centers and renewable energy, registered in Singapore. Earlier this year, Novva already acquired solar projects in Colombia with a combined capacity of approximately 40 megawatts from ABO Energy.
The framework agreement for the acquisition of the Argentine portfolio was signed today by Steven Liu, Founder and CEO of Novva, and Dr Karsten Schlageter, Managing Director of ABO Energy. 'The upcoming transaction is in line with our strategy of focusing on core markets. We are pleased to continue our successful collaboration with Novva,' said Dr Karsten Schlageter.
'Securing this portfolio marks a pivotal leap forward for our Latin American pipeline,' said Steven Liu, Founder and CEO of Novva. 'This upcoming acquisition propels Novva into the top tier of regional renewable energy platforms and establishes us as one of the fastest-growing infrastructure players powering the age of Artificial Intelligence (AI).'
Source: ABO Energy
