Italian grid operator Terna has acquired Italian solar O&M provider LT in a €24 million (US$27.8 million) transaction.
Terna has made the acquisition from its Terna Energy Solutions division, with Terna acquiring 100% of the equity of LT.
LT brings with it a portfolio of 1GW of solar PV systems under management, with Terna taking on service provision responsibilities.
Terna said the deal confirmed its role as an “enabler” of the energy transition in Italy and would affirm its support for renewables in the country.
As well as O&M service, LT also provides design, construction and repowering services for the solar PV industry.