A2A, Ardian sign deal to cooperate on multi-billion-euro clean project pipeline
Image: IRENA.
Italian utility A2A has said it will be able to accelerate its renewable generation growth plans thanks to a new partnership with investment house Ardian, as the partners establish what they claim will be Italy’s second-largest platform focused on the energy transition.
Paris-headquartered Ardian will invest up to €1.5 billion (US$1.83 billion) in equity in the new entity, called NewCo, which will feature a portfolio of A2A’s solar and other renewables generation plants, energy management storage assets and hydrogen projects that have a combined value of €3 billion.
Octopus offloads Italian solar to A2A in US$248m deal
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UK-headquarted Octopus Renewables has sold 173MW of Italian solar to utility A2A.
The portfolio of 17 PV plants is the largest merchant portfolio in Italy without GSE incentives, according to A2A, with the cash consideration paid reaching €205 million (US$248 million) correspondent to an equity IRR of around 6%.
Nine of the plants are located in the Lazio region and eight in Sardinia. They add to the 111MW already owned by A2A, which said that the plants have the possibility of supporting technologies such as storage and hydrogen “in the near future”.