BNZ, a solar project developer and an independent power producer (IPP), announced the acquisition of two greenfield solar projects totaling 127.7 MW from GreenGo, a renewable energy project developer. The two projects, with 90.5 MW and 37.2 MW capacity, are located in the municipalities of Francofonte (Siracusa) and Lercara Friddi (Palermo) in Sicily, Italy.
The Lercara solar project will begin operation in the first half of 2026, while the Francofonte solar project will reach commercial operation at the end of 2026.
BNZ Head of Development Gabriele Sommantico added, “These new projects in Sicily provide a further boost to our development in Italy. We expect to have the Lazio plants in operation by the third quarter of 2025. All other projects in our pipeline will likely have reached ready-to-build status by next year. We are also keen to explore new opportunities to strengthen our presence in Italy, with a specific interest in storage technology as well.”
The company also announced that it had completed its first Total IPP Financing (TIPPF) for over €680 million (~$744 million) in several countries in October this year. BNZ plans to deploy a portfolio of over 1.7 GW of renewable energy in southern Europe.
According to Mercom’s 9M and Q3 2024 Solar Funding and M&A report, 166 project acquisitions totaling 28.3 GW were transacted in 9M 2024 compared to the same number of project acquisitions totaling 31.6 GW in 9M 2023.
In September, BayWa r.e., a developer of renewable energy projects, announced the sale of four solar projects totaling 222 MW across the U.K. to Octopus Energy Generation, a renewable energy investment firm.
