Italian oil company, Eni has abandoned plans to acquire Italy’s PV asset manager RTR, a unit of U.K.-based private equity firm, Terra Firma Capital Partners Ltd (TFCP), which owns a 343 MW solar power plant portfolio in Italy.
In a statement to pv magazine, Eni’s press office confirmed that it has decided not to continue in the auction to acquire RTR, as previously reported by Reuters. Last week, Italian energy company, gas and electricity provider A2A, also told pv magazine it was no longer interested in buying RTR.
With the exit of these two companies from the auction, the only two shortlisted bidders are now Italian power utility, Enel and U.K. oil company, BP, according to Italian news portal, Energia Oltre.
Both companies declined to comment on the matter. The CEO of Enel, Francesco Starace said in February that the company was looking with interest at RTR’s portfolio, which consists 134 solar parks with a combined capacity of 334 MW across more than 100 municipalities in Italy.
Terra Firma began the process of selling RTR at the beginning of this year. At the time, Bloomberg reported that the company’s market value was estimated by Terra Firma at around €1.5 billion ($1.75 billion).
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.