14 Nov '16, 9am

EGP and F2i to buy Etrion’s 60MW Italian solar portfolio https://t.co/LVAbLbybm3

EGP and F2i to buy Etrion’s 60MW Italian solar portfolio https://t.co/LVAbLbybm3

Etrion Corporation will use the proceeds to progress activities in Japan and repay outstanding corporate bonds. Credit: Etrion Ultor, a 50:50 joint venture between Enel Green Power and Fondo Italiano per le Infrastrutture (F2i), has signed an agreement to purchase the 60MW Italian solar portfolio of Etrion Corporation. This will be for an initial cash consideration of €78 million (US$83.7 million) along with the assumption of €221 million of related project-level debt. There may also be further cash earn-out payments of up to €24 million depending on legal and regulatory proceedings. Etrion subsidiary Etrion S.p.A holds a 53.4MW set of assets while another subsidiary Helios Ita runs a 6.7MW set. This comes to 60MW across 17 project sites. Altogether they produced roughly 102.4GWh of electricity last year. Etrion intends to use the proceeds of the transaction to progress it...

Full article: http://www.pv-tech.org/news/egp-and-f2i-to-buy-etrions-60...

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