Utility firm EAM Solar is eyeing up the Italian PV market following the successful completion of its initial public offering (IPO) last week on the Oslo Stock Exchange.
The company has announced it will initially focus on acquiring large-scale projects in Italy while France and the UK will represent secondary markets.
EAM’s business model focuses just on the operation of PV plants without developing or constructing the plants. Initially, the company will focus on building a portfolio of operating assets which benefit from feed-in tariffs. However, the company intends to become a significant player in the grid parity market. In this context, EAM is now in the process of establishing industrial partnerships with leading EPC firms.
Once new projects are identified and project rights have been secured, EAM plans to issue new share offerings on a regular basis to its shareholders which are mostly composed of leading Scandinavian institutional investors.
EAM currently owns two PV plants in Italy in Varmo and Codroipo which have a combined capacity of 4.65MW. They are operating under long-term sales contracts covering the lifetime of the plants.