Verbund snaps up 110 MWp solar portfolio in Italy

Austrian utility Verbund AG (VIE:VER) said on Tuesday that it has agreed to acquire a 110 MWp portfolio of photovoltaic (PV) projects in central Italy from Ke-reninvestment, the Spanish holding company of Turkish energy investment firm Kinesis Enerji.

The deal, whose financial details were not disclosed, was completed on July 30.

The portfolio consists of two projects at an advanced stage of development. The projects share a substation and are located close to key consumers such as Greater Rome.

The deal will help Verbund to diversify its operations geographically. The acquisition is also in line with the company’s goal to generate 25% of its total electricity from photovoltaic systems and onshore wind power plants by 2030.

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