Greenalia Acquires 502 MW of Solar Projects in Texas

Tages Capital SGR, an independent energy infrastructure investor, and solar project operator through the Tages Helios II fund, acquired an 82 MW solar project in Sardinia, Italy.

Located in the province of Cagliari, the solar project is equipped with single-axis trackers. According to Tages Capital, it is one of the largest projects operating in Italy to date.

The latest acquisition adds to a portfolio of 12 solar projects with a combined capacity of 103 MW that the Italian firm and its funds own in Sardinia.

Tages Capital’s funds Tages Helios and Tages Helios II, which in 2021 raised €730 million (~$796.4 million) in funding from large Italian institutional investors and family offices, currently have 300 renewable power assets totaling 702 MW.

Umberto Quadrino, Chairman of the parent company Tages and Director of Infrastructural Investments Tages Capital SGR, said: “The acquisition is particularly important because it concerns a large plant, recently built and featuring the latest technology. The geographical location, the technical configuration, and our presence on the territory through the Delos group are the premises for achieving excellent technical and economic results, which thus optimally conclude the investments of the Tages Helios II fund. We are thus ready to invest in the Tages Helios Net Zero Fund, which already has several strategic portfolios in its pipeline.”

According to Mercom Annual and Q4 2022 Solar Funding and M&A report, 268 large-scale solar project acquisitions were recorded in 2022 compared to 280 in 2021. In 2022, about 66 GW of solar projects were acquired, with project developers acquiring the most, reaching 35.7 GW. EEW , an independent renewable energy project developer, recently sold a 42 MW solar PV project in Sweden to a large Sweden-based solar and wind project developer. The project in southern Sweden is targeted to reach ready-to-build status in 2023 and commence operations in 2024. Once completed, the solar farm is estimated to generate around 41 GW of clean and sustainable energy annually.