SENS, a solar as-a-service provider, has agreed to sell its 135 MW solar project portfolio in Sicily to Peridot Solar, a solar project developer—the solar projects will begin operating at the beginning of 2025.

The projects will generate more than 220 GWh of renewable energy annually. Palermo, the capital of Sicily, could be provided with this energy for approximately the first three months.

The 135 MW solar portfolio is the first of seven planned open-space agri-photovoltaic systems. The entire pipeline will include around 700 MW of PV output and regenerative energy generation annually.

“This project includes the full range of our PV services, so that we, as a full-service provider, have developed the entire 135 MWp in Sicily and will now build and support them,” explains Sarah Herresthal, Managing Director of SENS Italia. After the completion of the construction phase and the commissioning of the solar park, the O&M services will also be taken over by SENS Italia. “But that’s not all; we are expanding our service on this project by also taking care of the agricultural care and harvesting the plants. SENS is now also becoming a farmer in Italy,” adds Herresthal proudly.

“Completing the substation will significantly strengthen the power infrastructure in the region. It illustrates the change in the energy industry and opens up the opportunity for private companies to play a more active role in developing sustainable energy sources,” emphasizes André Kremer, CEO of the SENS Group, enthusiastically. “Sicily has enormous, previously untapped potential for expanding renewable energies. Our goal is to make the best possible use of this potential while always taking the surrounding landscape into account,” says Kremer, underscoring the importance of the project.

According to Mercom’s Q1 2023 Solar Funding and M&A Report, there were 67 large-scale solar project acquisitions in Q1 2023, compared to 61 transactions in Q4 2022. Grenergy, a solar, wind and storage project developer, recently agreed to sell its 150 MW Belinchón solar project in Spain to a European IPP. Net proceeds to Grenergy amount to €83 million (~$90.75 million) (equity value).