The Greenvolt Group, a solar and wind project developer, reached an agreement with Nuveen Infrastructure to sell a 153 MW solar project portfolio across various regions of Italy for €18.7 million (~$20.69 million).
The portfolio comprises 19 projects that will be sold in phases and are expected to reach the ready-to-build stage between 2024 and 2025.
Green Horse coordinated and assisted the sale on multiple fronts. This sale is a part of the company’s strategy to develop and sell solar projects.
“At the Greenvolt Group, we are experts in promoting the development of projects until they are ready to be built, where our advantage compared to other players in the renewable energy market is greater,” says João Manso Neto. “This advantage is demonstrated by the interest we saw towards these assets in Italy, which led us to close this agreement with Nuveen Infrastructure,” adds the CEO of the Greenvolt Group.
Earlier this year, Greenvolt, through its subsidiary Greenvolt Power, signed a €36 million (~$39.34 million) project finance with UniCredit Bank Hungary to construct, operate, and maintain a 57 MW solar project in Hungary.
According to Mercom’s 1H and Q2 2024 Solar Funding and M&A report, 113 solar project acquisitions totaling 18.5 GW were announced in 1H 2024 compared to 116 project acquisitions totaling 25.5 GW in 1H 2023.
In August, Lightsource bp, a solar project developer, announced the sale of the 49.9 MWac Tiln Farm solar and co-located 25 MW/50 MWh (two-hour duration) energy storage project to Schroders Greencoat, an investment manager dedicated to renewable infrastructure. The Tiln Farm project is located near Retford in Nottinghamshire, U.K.
