Acea resumes growth in the renewables marketPDF , 63kb
In keeping with the business plan strategy presented in April
Acea resumes growth in the renewables market
Photovoltaic plants acquired with an overall installed capacity of 25MWp
Rome, 29 July 2019 – Acea has finalised transactions for the acquisition of photovoltaic plants with an overall installed capacity of around 25 MWp, eligible for Conto Energia incentives, thereby achieving ahead of schedule 50% of the plan objective.
The transactions, which have an Enterprise Value of around 75 million Euro, will contribute approximately 11 million Euro per year towards increasing the Group’s EBITDA.
The most significant portfolio concerns the purchase of a 65% equity interest in seven special purpose vehicles that own 18 photovoltaic facilities, with an overall installed capacity of around 20MWp, belonging to the Belenergia Group.
As regards the other photovoltaic plants, a 100% stake will be acquired.
Stefano Donnarumma, Acea Chief Executive Officer, commented: “These transactions represent a major step forward in the implementation of our strategy to increase electricity output from renewable sources, photovoltaic energy in particular, as set forth in the 2019-2022 Business Plan. The transactions just concluded will generate positive effects on the Group’s financial results, with a growth in terms of EBITDA.”
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