A2A and Octopus Renewables have signed a binding agreement for the acquisition of a portfolio of 17 photovoltaic plants with a rated power of 173 MW.

The cash consideration paid for the portfolio is €205 million correspondent to an equity IRR of approximately 6%.

“This operation represents the first relevant investment in the direction mapped by the new Business Plan presented at the end of January. With the acquisition of these 17 plants, we consolidate our position as the second largest operator in renewables by installed capacity in Italy and increase the amount of green energy available to customers”.
Renato Mazzoncini CEO of A2A.

The plants will ensure an increase of the installed capacity which will be able to produce at full capacity about 420 GWh/y of green energy, equivalent to the annual consumption of 200.000 residential customers, avoiding the emission of 2,5 million tons of CO2 overall.

The size of the individual plants and the used connection solutions to create the conditions for the use, in the near future, of technologies such as storage and hydrogen.

Octopus assets are added to the 111 MW photovoltaic portfolio already owned by A2A. Through this acquisition, A2A reaches 33% of the energy produced from renewable energy sources.