Platina Partners has finalized its acquisition of 10MW of solar PV projects from the Degennaro Group. The 10 solar PV plants are located in the Puglia region of Italy, are each 1MW and mark the first operational plants in Italy for Platina. Their portfolio now includes 162MW of renewable energy projects in operation, 31MW of those being operational solar PV projects.
Joseph Muthu, partner of Platina Partners, said, “We are delighted with this investment and the
opportunity to work with a strong local partner in the Degennaro Group. We have been seeking the right
opportunity to invest in Italy and see it as one of the key European solar markets. Italy has now surpassed
the US in terms of solar PV installation and this growth has been driven by an excellent support regime. In
Puglia, there are plenty of PV projects with planning consent but no grid connection. Clearly this investment
in operational plant does not suffer from this bottleneck.”
The first of the ten plants was connected to the grid in November, with all plants expected to be connected by the end of this year. Degennaro Group, an Italian construction company, developed each project, is the engineering, procurement and construction contractor for each and will oversee the operation and maintenance for the ten solar PV projects.