Italian power and gas plant provider, A2A has signed agreement with Luxembourg-based TS Energy Europe S.A., the European subsidiary of Chinese solar module producer Talesun, for the acquisition of the Chinese company’s existing PV plant portfolio in Italy.
A2A said the transaction for the acquisition of the portfolio, which has a capacity of 43.2 MW, will be finalized by the end of this year. No further financial or technical details were released.
The Italian company added, however, that the agreement includes the creation of a joint venture with the aim of developing up to 300 MW of market parity PV projects and providing asset management services for the whole A2A portfolio, which consists of PV plants totaling 54.1 MW located across several Italian regions.
A2A, which also operates around 2 GW of hydroelectric power plants, as well as three thermal power plants with a combined power of approximately 1.7 GW, began investing in solar in September 2017, when it acquired 17 MW of PV plants from local fund, Fondo Re Energy Capital.
A month later, it also acquired 17.8 MW of Italian solar plants, all of which are all located in the Marche region, central Italy, from local renewable energy developer, Novapower, a unit of local industrial group Merloni Holding. Its third deal, finalized in March of this year, added another 15.7 MW of solar plants to its portfolio.
Talesun opened its branch office in northern Italy in July 2012.