The INTPOW partner, Scatec Solar AS, is securing further cash through an agreed the sale of a 9MW portfolio of operating solar PV plants in Italy to an investment fund managed by London-based Impax Asset Management Ltd.
The portfolio consists of eight projects within close proximity in Puglia, southern Italy and a 1MW project in Sardinia. All projects are operational, and with non-recourse bank financing of close to €34 million provided by DNB Bank ASA.
“We are pleased to have come to an agreement with Impax Asset Management regarding the Italian PV parks” said Raymond Carlsen, CEO of Scatec Solar. “Creating a portfolio of medium sized plants made this an interesting investment for Impax, and it confirms that solar energy remains a sound, long term investment.”
The PV plants were all designed and built by Scatec Solar, and the company will continue to provide operations and maintenance services.