Enerland sell Italian solar portfolio
Amsterdam-based DRI and Spanish developer Enerland have signed and closed the first deal of the purchase agreement for the development of a 166 MW solar PV portfolio, comprising of four solar parks in Italy.
Frankfurt-based financial advisory boutique Capcora supported the seller as exclusive M&A advisor in this transaction.
Located on the island of Sardinia, the four solar parks, known as Project Nox, are set to begin construction in 2H26.
DRI was chosen as the preferred bidder after a structured process conducted by the sell-side M&A advisor, Capcora. Headquartered in Amsterdam, DRI is a renewables developer and operator, and a subsidiary of the DTEK Group, the largest private investor in Ukraine’s energy sector.
With the addition of the Nox projects, DRI’s Italian portfolio now exceeds 522 MW in development, advancing their mission to achieve a 2 GW target in Italy.
“Italy is one of DRI’s key markets. We see huge potential to build out our renewable energy and battery storage portfolio here and contribute to the country’s energy transition and its national and EU targets. Our acquisition of four solar projects will also allow us to combine energy production from renewable sources with agricultural activities, generating economic development for local communities and fostering energy independence. I thank Enerland for being a great partner”, said John Stuart, CEO, DRI in their company announcement.
“We are delighted to have found an excellent travelling partner, a long-term investor and hope that this will be one of many collaborations with DRI”, added Manuel Balet and Javier Gil, Enerland Group CEOs.
“We are proud to have facilitated the successful sale of Enerland’s projects to DRI, a reliable partner and part of Ukraine’s DTEK Group. This transaction emphasises the significance of cross-border collaboration and the potential for value creation in a country full of growth opportunities”, stated Jochen Magerfleisch, Managing Partner at Capcora.
Legally, DRI was advised by Legance. Rödl & Partner was supporting Enerland as a legal advisor, while Capcora acted as an M&A advisor.
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Read the article online at: https://www.energyglobal.com/solar/13122024/enerland-sell-italian-solar-portfolio/
