The acquisition of an 85 MW, three-project solar portfolio by the Tages Helios fund illustrates the confidence investors have in Italian renewables, and fund managers are optimistic about the sector as they bid to expand into wind power as well as PV.
The Italian fund will use the money to refinance its current PV plant portfolio consisting of 101 MW of facilities, and to finance further acquisitions planned by the end of this year.
Through the operation, the fund bought 35 solar facilities located in the southern Italian regions of Apulia and Sicily, and in the northern region of Emilia-Romagna.
The Italian fund was able to reach €250 million in funding through its fourth and final financing round.
The Italian fund announced the closing of its third financing round. To date, the fund has raised approximately €210 million.
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