Italian TerniEnergia sells 50% stake in 2 MWp PV plant operator

Dec 30, 2013 - Italy’s TerniEnergia (BIT:TER), which operates in the sectors of renewable energy, energy efficiency and waste management, said on Sunday it had signed a deal to sell 50% in the Collesanto Srl joint venture, which owns solar plants with a total installed capacity of 2 MWp.

TerniEnergia will sell the stake to PVGE 1 Srl, a company 99% controlled by Genera SpA, for EUR 1.9 million (USD 2.6m), of which EUR 1.2 million share value and EUR 700,000 to repay an equity loan extended by TerniEnergia to Collesanto. The buyer will pay the price in cash by March 31, 2014.

The sale of the stake in Collesanto, which owns two utility scale photovoltaic plants for an installed capacity of about 1 MWp each, is part of TerniEnergia’s strategy to dispose of solar power assets.

(EUR 1 = USD 1.374)

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