Italian solar power generator RTR Group has acquired 10 photovoltaic plants from Terna, the operator and principal owner of Italy’s high-voltage grid. The acquisition will add up to 78MW to RTR’s installed capacity, bringing the total portfolio to 241MW. The largest plants in the new portfolio, which are under construction, are located in Emilia Romagna (Alfonsine), Lazio (Lanuvio), and Puglia (Troia and Deliceto).
Financial terms of the deal was not disclosed.
Guy Hands, chairman and chief investment officer of RTR's parent company, Terra Firma, said: “We see RTR as a platform upon which to build a leading renewable energy business in Italy. The acquisition of more quality PV plants from Terna helps give RTR scale in the solar market. We expect to make further acquisitions in renewable energy in Italy, a sector we consider is very attractive.”
Paolo Lugiato, CEO of RTR, said: “With this additional operation, RTR confirms its leading position in the production of solar electricity in Italy. RTR will now be more than three times the size of the second largest Italian operator. We continue to look for quality assets to integrate within our portfolio.”
RTR was advised by Bank of America Merrill Lynch and Linklaters.