Edison acquires EDF’s Italian solar generation assets

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From pv magazine France.

Italian energy brand Edison is poised to buy significant renewable assets from French parent company EDF.

Edison will acquire 77 MW of solar generation capacity and 256 MW of wind plants from the French group’s renewable energy unit EDF Renewables. Through the transaction, Edison will become Italy’s second largest wind plant operator and the acquisition of solar assets will lay the foundations for a significant development of PV in collaboration with EDF Renouvelables, the company stated.

The transaction is part of the Edison’s “carbon-free” policy to develop renewable energy. By 2030, Edison wants 40% of its energy production to come from renewables with emissions limited to 260g of CO2/kWh generated.

The value of the transaction, which should be finalized by July 10, amounts to almost €173 million.

The announcement of the asset purchases was made in parallel with the appointment of Nicola Monti as chief executive officer and Marc Benayoun as chairman of Edison.