A2A, Ardian sign deal to cooperate on multi-billion-euro clean project pipeline
Image: IRENA.
Italian utility A2A has said it will be able to accelerate its renewable generation growth plans thanks to a new partnership with investment house Ardian, as the partners establish what they claim will be Italy’s second-largest platform focused on the energy transition.
Paris-headquartered Ardian will invest up to €1.5 billion (US$1.83 billion) in equity in the new entity, called NewCo, which will feature a portfolio of A2A’s solar and other renewables generation plants, energy management storage assets and hydrogen projects that have a combined value of €3 billion.
Octopus Renewables has signed a binding agreement for the sale of 173MW of solar plants in Italy to Italian renewables operator A2A.
The portfolio comprises 17 photovoltaic plants and is the largest merchant portfolio of plants in Italy, without GSE incentives, of which nine are located in Lazio and eight in Sardinia.
Octopus Renewables is an investment fund of UK-based Octopus Investments.
The cash consideration paid for the portfolio is €205m.
A2A CEO Renato Mazzoncini said: “With the acquisition of these 17 plants, we consolidate our position as the second largest operator in renewables by installed capacity in Italy and increase the amount of green energy available to customers .