According to a report from Solarplaza, Adenium Solar Energy has bought a portion of a 29MW portfolio of grid-connected, operational solar plants in Italy. The transaction is valued at €125 million with the assets to be managed by Adenium and Foresight. The companies expect for their joint venture to increase the portfolio within the next 12 months to a total of 100MW.
Adenium’s Chairman, Safwan Kuzbari, stated that “following some extensive research and project screening of solar power projects, we are pleased to join forces with our partners at Foresight. This joint vehicle will allow Adenium and its investors to deploy capital in the European solar infrastructure space, offering an immediate return.”
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