JUWI Energie Rinnovabili, the Italian subsidiary of international project developer JUWI Group, announced the sale of a 50.5 MW solar project portfolio to Kelag Italia, a subsidiary of Kelag Group, an Austrian renewable energy provider.
The portfolio comprises eight authorized and ready-to-build solar projects located in Northern Italy. The company did not disclose the financial details of the transaction.
L&B Partners served as financial advisors to JUWI Energie Rinnovabili, providing support throughout all transaction stages. Global Law Firm Dentons advised JUWI on all legal aspects of the transaction.
“We are very pleased to confirm the successful sale of this portfolio,” commented Elvira Foti, Managing Director of JUWI in Italy. “We believe that these projects will add significant value to Kelag. This transaction underlines our commitment to delivering high-quality projects and reinforces our role as a leading renewable energy developer and EPC and O&M service provider in the Italian renewable energy sector.”
Kelag International, MD Ingo Preiss said, “Kelag plans to drive forward the transformation into a green energy system with an investment program of around €3.8 (~$4.18) billion by 2034. The strategic orientation of Kelag is aimed at selective growth in the business areas of hydropower, wind power, and photovoltaics. We are delighted to have found a reliable partner in JUWI for the expansion of our renewable power plant portfolio in Italy.”
Last November, Eramet Grande Côte, a mining company and subsidiary of Eramet Group, and JUWI Renewable Energies reached financial closure for an off-grid solar-plus-battery-storage project in Senegal.
In July 2024, the company also announced the sale of a 267 MW solar portfolio in Greece to Foresight and Mirova, a Paris-based asset management company. The construction of the projects is expected to begin in August 2024.
According to Mercom’s Annual and Q4 2024 Solar Funding and M&A Report, 217 large-scale solar project acquisitions totaling 37.7 GW were transacted in 2024, compared to 231 transactions totaling 45.4 GW in 2023.
