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Sosteneo adds a second project to its Italian solar PV portfolio

Sosteneo SGR S.p.A. (“Sosteneo”) has acquired 50% of a 163MW solar project located in Mineo (Sicily, Italy) (“Mineo”), from European Energy A/S, a leading Denmark-based independent power producer (“European Energy”).

The Mineo acquisition, on behalf of clients, follows Sosteneo’s previous transaction with European Energy for the nearby Ramacca solar PV project, announced in September 2023 (“Ramacca”).

The Ramacca and Mineo transactions are representative of Sosteneo’s strategy of investing in greenfield projects that accelerate the energy transition with a focus on geographies in which the team has deep experience.

New solar generation capacity is critical to Italy’s transition towards clean energy and reducing reliance on fossil fuels.  Once fully operational, Ramacca and Mineo will be able to produce sufficient electricity to power more than 120,000 European households whilst avoiding the emission of over 150,000 tonnes of CO2 annually compared to fossil fuel usage.

Sosteneo was supported in this transaction by financial advisor SURE, led by Alberto Cei, legal advisor PwC, led by Tommaso Tomaiuolo and Stefano Cancarini, and technical advisor Fichtner, led by Alberto Longhi.

Read the announcement from European Energy here.

 

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Disclaimer

This communication is not intended to provide an investment, tax, accounting, professional or legal advice and does not constitute an offer to buy or sell the fund or any other securities that may be presented. This communication is related to Sosteneo SGR S.p.A. and is not a marketing communication related to a fund, an investment product or investment services in your country. Any opinions or forecasts provided are as of the date specified, may change without notice, do not predict future results and do not constitute a recommendation or offer of any investment product or investment services. This communication is not intended for US Persons, as defined under Regulation S of the United States Securities Act of 1933, as amended.

a solar farm