European Energy A/S
European Energy A/S
01/14/2022 | Press release | Distributed by Public on 01/14/2022 14:02
European Energy sells largest solar park in Italy
European Energy sells largest solar park in Italy
Troia Solar Park - the largest solar park in Italy - has been sold by European Energy to Iren Energia. This is the largest sale of a single solar park in the history of European Energy.
More than 275,000 solar panel modules are going to see a change in ownership after European Energy and Iren Energia have come to an agreement on the sale of Troia Solar Park.
The solar park which is based in Apulia near Foggia in Italy was the largest solar park ever built in Italy at the time of its completion. With a total capacity of 103 MW, the park covers 1,500,000 sq. meters, which is equivalent to 200 football pitches.
- The sale of Troia Solar Park - our largest to date of a singular solar park - will cement the strong performance that our company has had in Italy over the past years, says Knud Erik Andersen, CEO of European Energy.
- We see with this divestment that demand is high for more renewable energy, and we will continue to be at the forefront of green investments in both Italy and the rest of the world to accelerate the green transition.
European Energy is also selling the recently grid-connected solar park of 18.5 MW in Palo to Iren Energia in the same agreement. The total energy capacity of the sold parks will be 121.5 MW.
The total amount of energy produced is approximately 180 GWh of green energy per year.
The closing is expected to take place during Q1-2022 and the value of it will be EUR 166 million (DKK 1.24 billion). The sale will contribute positively to European Energy's financial position.
European Energy hold an Italian pipeline of almost 2 GW capacity and is ready to invest approx. EUR 800 million in Italy in the next four years to develop and construct other projects.
Apart from the divestment of Troia and Palo, Iren Energia and European Energy have also entered into a strategic agreement on the development pipeline of European Energy, equal to a total of 437.5 MWp distributed over four sites in Lazio, Sicily and Puglia, of which 38.8 MWp already authorized, which provides for the possibility for Iren Energia to invest, in an exclusive period and at various stages of development, in the pipeline by exercising certain rights.
Contact
Ming Ou Lü
Communications Advisor
+45 3126 9376
Ming Ou LüJanuary 14, 2022