First Reserve to sell 101 MW of Italian solar plants

Private equity firm First Reserve has confirmed that it is attempting to sell 101 MW of its Italian solar PV assets via an auction process, Reuters has reported.

Winning bids for the firm’s solar portfolio will be selection by July 27, and sources close to the matter say that a number of bids in the region of $110 million have been made.

The portfolio includes the San Bellino plant in the country’s north-eastern Veneto region, which at 70.5 MW is the largest solar installation in Italy.

Possible bidders believed to be interested in the portfolio include Tages Capital and Enel Green Power, which is rumored to be musing the possibility of bidding under a joint venture with Italian infrastructure fund F2i.

A €90 million offer has been made and subsequently withdrawn by Italy’s Quercus Investment Partners, according the news agency.