ERG acquires 89MW PV portfolio in Italy

Facebook
Twitter
LinkedIn
Reddit
Email
The enterprise value of the transaction was US$396 million. Image: Parker Knight / Flickr

ERG Power Generation, subsidiary of ERG, has signed off on an agreement with VEI Green to acquire 100% of ForVei – a joint venture between VEI Green and Foresight.

By acquiring ForVei, ERG will acquire 30 PV projects located in eight regions of Italy that have a combined generation capacity of 89MW. This PV portfolio also has an annual output of about 136 GWh, with 100% of the installed capacity benefiting from incentives with an average maturity of 2030.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The enterprise value of the transaction was US$396 million.

The deal is expected to close by the end of January 2018, with the operation conditional on approval by the Antitrust and the satisfaction of the lending banks.

Luca Bettonte, managing director of ERG, said: “The acquisition of this important 89MW photovoltaic platform marks ERG's entry into solar power and is another important part in the technology diversification strategy. will immediately enable us to expand and optimize our Energy Management portfolio with high-quality geographically well-located facilities in the North Italy market area as well as capitalize on our industrial asset management skills.

“ERG's input into photovoltaics in However, Italy is still in a highly fragmented market context that could offer further opportunities for consolidation,and enables us to acquire the know-how needed to participate in growth across borders in a rapidly expanding industry.”

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

September 12, 2025
Colombian energy supplier Celsia is seeking more than US$1.2 billion in investment to build wind and solar generation projects in Peru. 
September 12, 2025
ACME Venus Urja has secured INR3.8 billion (US$43 million) to develop and construct a solar-plus-storage project in Barmer, Rajasthan.
September 11, 2025
Madison Energy Infrastructure has raised US$800 million to accelerate the deployment of clean energy assets across the US. 
September 11, 2025
The EBRD has launched a new programme to improve access to green financing and support energy investments such as renewable power projects.
September 11, 2025
The absence of negative pricing in Italy undermines the case for co-located solar storage, the co-founder of Italian IPP Terrawatt has said.
Premium
September 10, 2025
PV Talk: Italy’s new CfD policy offers clear support for solar developers in an otherwise uncertain legislative landscape, says Terrawatt's Patrizio Donati.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines