Solar Market Italy: Enerside Sells Large-Scale Agri-PV Plant With Integrated Battery Storage to Chint Solar - Capcora Advises

Frankfurt am Main, Germany - The renewable project developer Enerside has sold a large-scale Agri-PV project with an integrated battery storage system (BESS) in Italy. The buyer is the renewable energy service provider Chint Solar Europe, which is acquiring the project via its subsidiary Chint Solar Italy Projects BV.

The Frankfurt-based consulting firm Capcora GmbH acted as exclusive M&A advisor to Enerside on the seller side. The sale was concluded by means of a share purchase and transfer agreement; the parties have mutually agreed not to disclose the purchase price.

The “Palmadula” solar project, with an expected capacity of 360 MWp and a BESS feed-in capacity of 82.5 MWh, is located in Sardinia. It is currently one of the largest single projects in Italy and extends over 900 hectares, combining photovoltaic systems and battery storage with arable and pasture land. The project is currently at an advanced stage of development and is expected to reach ready-to-build (RTB) status in 2025.

“This transaction represents a significant milestone for us in Italy and aligns with our strategic objectives to recycle the capital in our development pipeline,” commented Jaume Solà, CFO of Enerside on the sale. “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,” commented 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. REA supported as technical advisor, while Capcora acted as sole M&A advisor.

Source: IWR Online, 26 Apr 2024