DRI, a renewable energy company based in Amsterdam and a subsidiary of the DTEK Group, has announced the signing and completion of a purchase agreement to develop a 166 MWp solar portfolio in Sardinia, Italy. The portfolio, named Project Nox, comprises four solar projects acquired from Enerland, a solar engineering, procurement, and construction firm. Construction is scheduled to commence in the second half of 2026.
Capcora, a Frankfurt-based financial advisory firm, served as the exclusive advisor to the seller on the transaction. Legance advised DRI, while Rödl & Partner advised Enerland on the acquisition.
In August, the company also announced the acquisition of a 133 MW/532 MWh energy storage project in Trzebinia, Poland. DRI acquired 100% of the shares from Columbus Energy, a Polish renewable energy services provider.
“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 of DRI, in a company announcement.
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.
Last month, CEE Group, a Hamburg-based renewable energy asset management firm, announced the acquisition of the 102 MW Klüden solar project in the Börde district in Saxony-Anhalt, Germany, from Sunovis, a Germany-based solar project developer.
