Terra Firma sells 334MW Italian solar portfolio for €1.3 billion

Facebook
Twitter
LinkedIn
Reddit
Email
Source: Flickr/Floris Oosterveld.

Private equity giant Terra Firma is selling the 334MW Italian solar platform RTR for €1.3 billion (US$1.5 billion).

The portfolio of projects will be sold to infrastructure investor F2i. The deal makes F2i the third largest owner of solar power assets in Europe.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

“We developed RTR from a small collection of assets into the leading independent solar energy company in Italy, and have more than doubled the amount of energy it produces,” said Andrew Geczy, CEO, Terra Firma. “Both RTR and Terra Firma have shown creativity and tenacity in navigating a complicated regulatory environment and changing energy market to deliver this positive result for our investors,” he added.

According to Terra Firma, RTR notched up EBITDA of €130 million (US$151 million) in 2017.

“Thanks to the overall scale of production reached with this acquisition, equal to more than 800MW, F2i becomes Europe's third largest producer of electrical power from solar energy,” said Renato Ravanelli, CEO, F2i. “The noteworthy operating and financial efficiencies of scale achieved will also make it one of the continent's most efficient operators.”

Read Next

June 20, 2024
The smarter E Award has five categories in total, including photovoltaics, energy storage, e-mobility, smart integrated energy and outstanding projects.
Sponsored
June 20, 2024
At SNEC 2024, PV Tech spoke with Dennis Shi, president of Sunman Energy, about his views on markets offering great potential and financing.
Sponsored
June 19, 2024
PV Tech speaks with the Ellen Wang, VP of global sales at Runergy, about the company's market position and work in the European solar sector.
June 19, 2024
A leading German solar distributor has predicted “crazy” ongoing pricing pressures in Europe as the PV industry continues to face huge product oversupply and competition prompted by the easing of the recent energy crisis in Europe.
June 19, 2024
Global Solar Council offers policy recommendations to increase the installed solar capacity and address barriers slowing its deployment.
June 18, 2024
Soltec has published its financial results for the first quarter of 2024, which include revenues of €121 million (US$130 million).

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 2, 2024
Athens, Greece
Solar Media Events
July 9, 2024
Sands Expo and Convention Centre, Singapore
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia