ENERSIDE today announced the sale of 360 MWp agrivoltaic solar project with an integrated battery energy storage system (BESS) of 82.5 MWh in Sardina, Italy. The acquirer is Chint Solar Europe (“Chint Solar”), which buys the project via its subsidiary Chint Solar Italy Projects BV. Capcora, a German consulting company, acted as the exclusive sell-side M&A advisor to ENERSIDE.
The project “Palmadula”, which encompasses a ground-mounted agrivoltaic system with an anticipated capacity of 360 MWp alongside an integrated BESS system with an expected injection capacity of 82.5 MWh, is situated in the Sardinia Region. It stands as one of the largest single projects in Italy and spans over 900 hectares which includes areas designated for crops and sheep grazing. The project is currently in an advanced stage of development and anticipates reaching its ready-to-build (RTB) status in 2025.
The sale was finalized through a share sales and purchase agreement, and the parties have mutually decided to maintain confidentiality regarding the purchase price.
“We are pleased to have successfully signed the sale of this unique and sizeable project through a forward sales agreement. This transaction represents a significant milestone for us in Italy and aligns with our strategic objectives to recycle the capital in our development pipeline.”, comments Jaume Solà, CFO of Enerside.
“We are excited to acquire this significant project in Sardinia, which fits seamlessly with our long-term growth strategy. We see great potential in agrivoltaic and BESS assets and are committed to their continued success. This acquisition reinforces our position in the market and enhances our European portfolio.”, adds Oliver Schweininger, CEO/Managing Director of Chint Solar Europe.
“We are thrilled to have assisted ENERSIDE in successfully completing the sale of this landmark combination of an agrivoltaic and BESS portfolio to Chint Solar. This transaction underscores our unwavering commitment to the Italian market and our dedication to fostering cross-border strategic partnerships within the renewable energy sector.”, Jochen Magerfleisch, Managing Partner at Capcora.
On the legal side ENERSIDE was advised by RCD Legal, while Chint Solar was supported in the transaction by Legance as legal advisor and by REA (Reliable Energy Advisors) as technical advisor, while Capcora acted as sole M&A advisor.
About ENERSIDE
Enerside is a vertically integrated company in the photovoltaic solar energy sector, which stands out for its strong industrial profile and geographical diversification in the markets with the greatest potential for solar energy (Spain, Italy, Brazil, and Chile).
The company is currently immersed in promoting the development of 7 GW in differentiated, highly qualified projects with an advanced degree of maturity that gives it an excellent position to capture demand growth and a great capacity to generate value, through the sale of projects in the RTB (Ready to Build) phase and with the direct exploitation of part of the pipeline as an independent energy producer (IPP).
www.enerside.com
About Chint Solar
CHINT was founded in 1984 and is a leading global provider of smart energy solutions with an extensive business network across over 140 countries with more than 40,000 employees and an annual sales revenue of over USD 18.5 billion. In 2006 Chint Solar was established and is listed at the stock exchange market as one of the top renewable energy companies. Chint Solar is also a leading global downstream project developer being active in project development, financing, realization and operation of solar parks. With over 10.5 GWp completed utility and C&I projects in different regions, Chint Solar has built a significant track record. Chint Solar keeps 11.5 GWp solar projects (including residential) around the world on its balance sheet, which makes it one of the largest independent renewable power producers. In 2016, Chint Solar formed a dedicated European project development team and is active in project development in Germany, Netherlands, Spain, Portugal, Italy, France, Hungary and the United Kingdom.
www.chintsolar.com
About Capcora
Capcora is an independent financial advisory boutique specializing in M&A and project finance services to accelerate the energy transition in Europe. Founded in 2015, the Frankfurt-based company helps its clients succeed in the renewable energy and infrastructure sectors by advising them on sell-side and buy-side transactions, and by raising mezzanine, unitranche or senior debt.
www.capcora.com
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