Calabria solar park is one of the ten largest solar plants in Italy, completed by Talesun Solar Switzerland AG (Talesun) a Swiss subsidiary of Zonghli Talesun Solar Co Ltd, the leading Chinese solar panel manufacturer. Foresight Group was the lead advisor for the transaction.
ForVEI is a joint venture comprising VEI Capital, CDC Infrastructure, Foresight Solar VCT, Quercus Renewable Energy and Adenium Solar Energy. Adenium Capital, Dubai based investment company, is focused on investments in renewable energy infrastructure projects with a main focus on solar power. Currently Adenium is active in Italy, Jordan and Japan. In addition, Adenium is currently negotiating additional Italian solar transactions for direct investments.
Jeremy Crane, Chief Operating Officer of Adenium, stated: "We are excited about our latest acquisition, growing our ForVEI portfolio to 54 MW. Calabria is a very attractive asset that fits perfectly with our growth expectations for the first half of 2013. We continue to be bullish on the Italian PV market and look forward to working with our partners to increase ForVEI to over 100MW over the course of the next 12 months".
This acquisition follows ForVEI's innovative lease-back financing acquisition of the OPDE portfolio in 2011, which at that time represented the largest lease financing of PV plants arranged by a single bank in Italy.
