Danish renewable energy developer European Energy has agreed to sell 120.5MW of PV capacity located in the Italian Southern region of Apulia to local holding Iren Spa for €166 million.
Originally intended to sell power under a power purchase agreement, the solar park in Troia began selling electricity to the Italian spot market in June 2020, when it was completed to comply with a deadline set by the Regional Administrative Court of Apulia, which responded to a petition by the developer to reinstate approval for the project.
“The solar park in Troia is still selling power to the spot market,” a spokesperson from the company told pv magazine. European Energy acquired the ASI Troia FV1, a special purpose company that owns the Troia project, in February 2019. The plant had been approved by Apulia’s regional government in 2011 when the Conto Energia feed-in tariff program was still running.
European Energy and Iren also announced that they have signed a partnership agreement to develop and build another 437.5MW of PV projects in the Italian regions of Lazio, Apulia, and Sicily over the coming years.
In January 2019, the Danish developer announced it had secured a 12-year agreement from the Axpo Italia local unit of the Swiss electric utility for Axpo to buy 300MW of solar power.
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