E.ON sells 49 MW Italian PV portfolio

E.ON – the German utility giant – has announced today the sale of its Italian PV portfolio to a local private investment fund manager for an undisclosed sum.

The utility’s divestment from solar power in Italy involves the offloading of 49 MW of PV assets in the form of seven separate solar parks, 70% of which are located on the Italian island of Sardinia.

The buyer, Fondi Italiani per le Infrastrutture, also known as F2i SGR SpA, is a private infrastructure funds that boasts a solar portfolio of 89 MW in Italy via its subsidiary, Holding Fotovoltaica.

E.ON was involved in the divested plants during their construction between 2010 and 2013, yet despite recently announcing that it is to spin-out an entirely renewable energy brand in 2016, has now taken the decision to entirely offload its PV presence in Italy.

E.ON confirmed the sale in a press release issued yesterday, but did not disclose the value of the deal.