TerniEnergia S.p.A. has transferred 50% of its share capital of two companies to its joint venture partner EDF EN Italia, effective 31 December 2012.
The JV Energie owns 13 industrial sized PV plants with a total capacity of 16.5MWp. The business has been valued at US$8.14 million.
As part of the transfer, EDF EN Italia is expected to pay a deposit of US$0.4 million. The balance will be paid by EDF EN Italia by 31 March 2013.
The final price will be determined following the approval of the sub-annual budget of EnergiaAlternativa.
The Board of Directors of TerniEnergia subsequently approved the transfer of 50% of the share capital of EnergiaAlternativa to EDF EN Italia, which owns 12 PV plants with a total capacity of 13.9MWp, effective 30 June 2013.
Assets for EnergiaAlternativa have been valued at US$7.17 million.
TerniEnergia told reporters that the investment will help to optimise revenues from power generation and improve the operational efficiency of the PV plants.