Italy grid operator Terna acquires solar O&M provider in US$28m deal

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
The Troia solar farm completed in Italy by European Energy last year. Image: European Energy.

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.

Read Next

December 3, 2021
Koch Engineered Solutions (KES) LLC has acquired US engineering, procurement and construction (EPC) firm DEPCOM, which specialises in utility-scale solar PV projects, for an undisclosed amount
December 2, 2021
Japanese electrical engineering and software company Yokogawa Electric Corporation has acquired all of the outstanding shares of renewable and distributed energy software company PXiSE Energy Solutions LLC for an undisclosed amount
December 2, 2021
Renewables developer BayWa r.e. has acquired Beacon Solar, the solar distribution division of Beacon, and will look to “cross-sell” solar and roofing products in the near future as it continues to expand across the US.
December 1, 2021
Tech major Amazon has added a further 2GW to its committed utility-scale solar PV capacity, adding projects in the US and Europe to its renewables portfolio.
PV Tech Premium
November 30, 2021
Array Technologies reveals to PV Tech Premium the core motivations behind its US$652m deal to acquire STI Norland, creating what it says is the world’s biggest tracker company, from stronger supply chains to an ability to target more international markets
November 30, 2021
‘Solar Module Super League’ (SMSL) member Canadian Solar has raised US$150 million through a share offering, with proceeds set to help the manufacturer expand its energy storage arm.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 1, 2022
London, UK
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal