X-ELIO, a Brookfield-owned renewable energy project developer, has announced the sale of the 50 MW Castelvetrano solar project, located in Sicily, to PLT Energia, a solar and wind energy company.
The solar project, once operational, is expected to produce approximately 92 GWh of clean electricity annually. The company did not disclose the financial details of the transaction.
Nicholas Pentreath, Deputy CEO at X-ELIO, stated, “We are proud to close this agreement with PLT Energia, which culminates the effort and the relationship between two leading renewable companies. We will continue delivering renewable energy projects that support Italy’s transition towards a cleaner and stable energy system”.
The company currently has 146 MW of solar capacity in operation and a total of 116 MW of capacity under construction. Additionally, X-ELIO manages a portfolio of 1.1 GW of solar projects and 1.8 GW of battery energy storage systems in various stages of development.
Stefano Marulli, CEO of PLT Energia, commented, “This transaction represents a further step in PLT Energia’s growth strategy, aimed at consolidating an integrated platform in the renewable energy market on a national scale”.
X-ELIO had previously sold a 50 MW solar project in the province of Almeria, southern Spain, to Tion Renewables, a Munich-based renewable energy power producer, this year. The company closed a €89 million (~$96.75 million) financing deal with Société Générale as the sole Bookrunner, Mandated Lead Arranger, and Hedge Provider in March of last year.
According to Mercom’s 1H and Q2 2025 Solar Funding and M&A report, approximately 19.9 GW of solar projects were acquired in the first half of 2025, compared to 18.5 GW in the first half of 2024.
In September, Grenergy, a renewable energy company, agreed to sell the fourth phase of its Oasis de Atacama project in Chile to funds managed by CVC DIF, the infrastructure investment arm of global private equity firm CVC Capital Partners. The transaction is expected to total an enterprise value of up to $475 million, including earn-outs and financial adjustments.
