TerniEnergia acquires 19.5% in Italian 1 MWp solar plant operator

Dec 27, 2013 - Italian TerniEnergia (BIT:TER), operating in the sectors of renewable energy, energy efficiency and waste management, said Monday it had completed the acquisition of a 19.5% stake in Infocaciucci Srl, a company that owns a 1 MWp photovoltaic plant in Apulia, southern Italy.

TerniEnergia purchsed the interest from Massarelle Srl thus raising its stake in Infocaciucci to 69.5%.

The agreement envisages a cash payment of EUR 285,000 (USD 391,641), of which EUR 100,000 paid upon signing of the accord and the remaining amount to be transferred within 90 days from the date of the act, a statement read.

The deal is part of TerniEnergia's strategy for development of power generation activity.

(EUR 1 = USD 1.374)

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