ContourGlobal PLC (LSE:GLO), in partnership with Energy Infrastructure Partners AG (EIP), announced the acquisition of a portfolio of solar photovoltaic assets totaling 18 megawatts in Italy.
The deal to obtain Green Hunter Group S.p.A was signed on 4 June 2021 and completed yesterday for approximately €45.6mln on a cash and debt-free basis.
Following completion, the company and EIP own 51% and 49% of the acquired entity, respectively.
The transaction is part of ContourGlobal’s operationally led solar strategy in Italy with its long-time partner EIP which will raise its installed solar capacity by 24% in the Italian market, the company said.