Nordic Solar, a Denmark-based developer and owner of solar project, announced the signing of a share purchase agreement for the 2.8 MW Montmayon solar project in France. The company sold the project to an undisclosed acquirer.
The financial terms of the acquisition remained undisclosed.
The transaction is Nordic Solar’s first in France. In addition, the company is planning to divest its other solar projects in the near future. In 2024, it sold three projects, the highest number of divestments completed in a single year by the company so far.
“The first divestment of a solar park in France, as well as completing the second sale within a few weeks, is a significant achievement for us. It demonstrates our ability to execute our divestments and shows that our organization is well-equipped to deliver on the strategy laid out. These divestments are also a good example of our commitment to generating long-term returns for our investors. We have operated the plant for 8 years, with strong performance figures, and concluded the process with a divestment to enhance growth and capital recycling,” says Chief Investment Officer Holger Bang.
Previously, the company announced the sale of the operational 1 MW Pellegrino solar project in the Parma region of Italy and the Sella portfolio totaling 12.84 MWp across Italy this year.
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.
Earlier in December, DRI, a renewable energy company based in Amsterdam and a subsidiary of the DTEK Group, announced the signing and completion of a purchase agreement to develop a 166 MWp solar portfolio in Sardinia, Italy.
