- The transaction includes 28 projects at different stages of development, comprising photovoltaic assets, battery-hybrid projects and wind power assets
- The agreement forms part of the company’s asset rotation strategy and will enable it to continue pursuing new growth opportunities in a strategic market
IGNIS has successfully completed the sale of a 656 MW portfolio of renewable energy projects in Italy to flyRen, a group backed by the British fund Foresight Energy Infrastructure Partners II. The transaction comprises 28 projects at different stages of development, located across several regions of the country, and includes solar PV, battery-hybrid and wind assets.
The transaction marks the culmination of several years of local development, land management, permitting and technical structuring work by IGNIS teams in Italy, demonstrating the company’s ability to create value through the development of large-scale renewable energy platforms. The sale, with ValeCap as financial advisor to the seller and Green Horse Legal Advisory and DWF acting as legal advisers, is part of the company’s asset rotation strategy and will enable it to continue pursuing new growth opportunities in the country, which remains one of its strategic markets.
IGNIS is currently working on new generation and energy storage opportunities across several regions of Italy. This activity is complemented by the development of a portfolio of large-scale data center projects in different locations, in response to growing electricity demand driven by the digitalisation of the economy. In the coming years, the company will further strengthen its presence in the country, expanding its team and activities from renewable development towards an integrated model combining generation, grid access, storage and energy solutions for large consumers.
'We have developed a large-scale project portfolio over several years, and this transaction allows us to realise the value of that work while continuing to grow in the country. Italy is a strategic market for IGNIS, both in renewables and in new energy infrastructure and data centers. The combination of our expertise in renewable development and our ability to identify and develop solutions for large consumers puts us in a differentiated position to capture the opportunities offered by the Italian market,' says Mafalda Palacios de A. e A., conuntry manager of IGNIS in Italy.
Source: IGNIS
