IGNIS has finalised the sale of a portfolio of renewable energy assets totalling 656MW in Italy to flyRen Energy Group.
flyRen is supported by British investment fund Foresight Energy Infrastructure Partners II.
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The portfolio comprises 28 projects in various stages of development, spanning multiple regions in Italy, and consists of photovoltaic (PV), battery-hybrid and wind power projects.
The sale forms part of IGNIS’ ongoing asset rotation strategy, which aims to give the company scope to pursue further growth opportunities within the Italian market.
ValeCap acted as financial adviser to IGNIS, with Green Horse Legal Advisory and DWF providing legal counsel for the transaction.
Italy remains a focus market for IGNIS as it continues its development efforts in the region.
According to IGNIS, the company’s teams undertook several years of local project development, land management, permitting and technical structuring to prepare these assets.
IGNIS Italy country manager Mafalda Palacios said: “We have developed a large-scale project portfolio over several years, and this transaction allows us to realise the value of that work while continuing to grow in the country.
“Italy is a strategic market for IGNIS, both in renewables and in new energy infrastructure and data centres.
“The combination of our expertise in renewable development and our ability to identify and develop solutions for large consumers puts us in a differentiated position to capture the opportunities offered by the Italian market.”
The company is currently involved in additional electricity generation and energy storage initiatives in various parts of Italy.
In response to increasing electricity demand linked to digitalisation, IGNIS is also developing a portfolio of large-scale data centre projects at different locations.
IGNIS indicated plans to further expand its presence in Italy in the coming years.
The company intends to grow its team and broaden its activities, moving towards an integrated approach that includes generation, grid access, storage and energy solutions for large consumers.
