Sosteneo acquires full ownership of Mineo solar PV project in Sicily
Milan - Sosteneo SGR S.p.A. (“Sosteneo”) has acquired the remaining 50% interest in the 151 MW Mineo solar photovoltaic project[1], located in the province of Catania, Sicily, Italy, from European Energy A/S (“European Energy”), a Denmark‑based independent power producer.
Sosteneo initially acquired a 50% stake in the Mineo project in November 2023, on behalf of clients, as part of a structured partnership with European Energy. The completion of this transaction results in Sosteneo assuming full ownership of the project and concludes the investment program of Sosteneo’s first flagship fund[2].
Mineo was developed by European Energy, which progressed the project through development and into construction‑ready stage. As full owner, Sosteneo will now be responsible for construction and long‑term ownership of the asset.
The project successfully participated in the September 2025 FER‑X auction, Italy’s contract‑for‑difference support scheme for renewable energy, with results announced in December 2025. Under the FER‑X framework, 70% of the project’s production will be remunerated through the incentive scheme, providing long‑term revenue visibility as well as a certain protection from curtailment and negative price risk.
The Mineo transaction builds on Sosteneo’s established relationship with European Energy and is consistent with Sosteneo’s strategy of investing in construction‑ready infrastructure assets, with a focus on cash flows that are expected to be stable and visible[3].
Federica Gallina, Partner, Head of Investments and Asset Management at Sosteneo, commented:
“The completion of the Mineo transaction reflects the structured partnership we established with European Energy in 2023 and the successful progression of the project to a construction‑ready stage. Full ownership of Mineo enhances the scale of our solar PV portfolio in southern Italy, supporting long‑term contracted revenues and operational efficiencies for our clients. We value European Energy’s role as development partner and look forward to continuing our collaboration.”
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About Sosteneo
Sosteneo is an investment manager that specialises in construction-ready greenfield infrastructure projects related to the energy transition with the aim of providing an attractive long-term commercial return to clients whilst making an active contribution to the decarbonisation of the global energy system.
The Sosteneo team brings together a wealth of investment management expertise, complemented by a practical, hands-on background in the energy sector. The team’s collective experience dates back to the inception of renewable energy infrastructure as an institutional-grade asset class over 20 years ago.
Sosteneo is part of the Generali Investments platform of asset management firms.
About Generali Investments
Generali Investments is a platform of asset management firms operating in more than 20 countries, offering distinctive strategies in public and private markets and expert insights to help investors achieve long-term performance. With €661.0 billion in assets under management (as at December 31, 2025, net of double counting) and over 2,200 investment professionals, Generali Investments is the asset management arm of the Generali Group, one of the world's largest insurance and asset management players. Generali Investments supports each firm to innovate and grow with investment autonomy, ensuring they’re set up to develop sustainable and innovative solutions.
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Disclaimer
The acquisition of Mineo has been made exclusively through Fund I and shall not, under any circumstances, be construed or characterised as a direct investment of, or attributable to, Sosteneo SGR S.p.A.
This marketing communication is related to Sosteneo Clean Energy Infrastructure Fund SCA SICAV-RAIF, an Alternative Investment Fund (AIF) under Luxembourg law of 12 July 2013, and qualifying as a Reserved Alternative Investment Fund (RAIF) an unregulated investment vehicle within the meaning of the Luxembourg law of 23 July 2016 referred to as “Fund I”. Fund I is actively managed without reference to an index.
Fund I is an unregulated investment vehicle, which is not subject to the prudential supervision of the Luxembourg supervisory authority of the financial sector (CSSF). Consequently, this marketing communication and the Issuing Document of Fund I have not been submitted and reviewed by the CSSF or any other Luxembourg supervisory authority.
This marketing communication is intended only for professional investors in the countries where the Fund I is registered for distribution and is not intended for retail investors, nor for U.S. Persons as defined under Regulation S of the United States Securities Act of 1933, as amended. This product is based overseas and is not subject to UK sustainable investment labelling and disclosure requirements. This document is co-issued by Sosteneo SGR S.p.A. and Generali Investments Luxembourg S.A. which are authorised to market the Fund.
Fund I is closed to new subscriptions.
Non-exhaustive list of risks: Regulatory risks / EU/UK Risk Retention Requirements / Sustainability Risk / Investment risks / Market Risk / Credit & Counterparty Risk / Concentration Risk / Infrastructure Equity Risks / Funding & Liquidity Risk / Valuation Risks / Other Investment Risks. For more information on the risks applicable to “Fund I”, please refer to the Issuing Document of the fund, section 14. “GENERAL RISK FACTORS”.
The Manager and AIFM of the Fund is Generali Investments Luxembourg S.A., a public limited liability company (société anonyme) under Luxembourg law, authorised as UCITS Management Company and Alternative Investment Fund Manager (AIFM) in Luxembourg, regulated by the Commission de Surveillance du Secteur Financier (CSSF) - CSSF code: S00000988 LEI: 222100FSOH054LBKJL62. AIFM.
Sosteneo SGR S.p.A. is an Italian AIFM, regulated by the Bank of Italy (enrolled under no. 211 of the AIFM register held by the Bank of Italy according to art. 35 TUF) and has been appointed by the AIFM as the Portfolio Manager of the Fund.
Sources (unless otherwise specified): Generali Investments Luxembourg S.A., authorised as a UCITS Management Company and Alternative Investment Fund Manager (AIFM) in Luxembourg.
[1] The acquisition of Mineo has been made exclusively through Sosteneo Clean Energy Infrastructure Fund SCA SICAV-RAIF (“Fund I”) and shall not, under any circumstances, be construed or characterised as a direct investment of, or attributable to, Sosteneo SGR S.p.A.
[2] Sosteneo Clean Energy Infrastructure Fund SCA SICAV-RAIF (“Fund I”), which is closed to new subscriptions.
[3] Cash flows are not guaranteed.
