A2A accelerates its growth in the pv sector Acquired the largest merchant portfolio of photovoltaic plants (173 MW)
With this transaction, the Company consolidates its position as the second operator in the Country in terms of installed capacity in the renewable energy sources sector and it ranks third in solar energy power generation.
Milan, 14th February 2021 - A2A signed today a binding agreement with Octopus Renewables for the acquisition of a portfolio of 17 photovoltaic plants with a rated power of 173 MW. The asset is the largest merchant portfolio of plants in Italy, without GSE incentives, of which 9 are located in Lazio and 8 in Sardinia. Octopus Renewables is an investment fund qualified in the renewable energy sector part of the British Group Octopus Investments Ltd The cash consideration paid for the portfolio is € 205 million correspondent to an equity IRR of approximately 6%.
Renato Mazzoncini CEO of A2A declared: “This operation represents the first relevant investment in the direction mapped by the new Business Plan presented at the end of January. With the acquisition of these 17 plants, we consolidate our position as the secondlargest operator in renewables by installed capacity in Italy and increase the amount of green energy available to customers".
The plants will ensure an increase of the installed capacity which will be able to produce at full capacity about 420 GWh/y of green energy, equivalent to the annual consumption of 200.000 residential customers, avoiding the emission of 2,5 million tons of CO2 overall (along the entire life cycle of the plants). The size of the individual plants and the used connection solutions to create the conditions for the use, in the near future, of technologies such as storage and hydrogen.
Octopus assets are added to the 111 MW photovoltaic portfolio already owned by A2A. Through this acquisition, A2A reaches 33% of the energy produced from renewable energy sources.
The acquisition is subject to the approval of the Presidency of the Council of Ministers in accordance with the Golden Power Decree.
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