Pizzarotti sells stake in PV portfolio to Holding Fotovoltaica

Pizzarotti & C.has completed the sale of its 100% stake in Pizzarotti Energia, which manages a solar portfolio located in Italy, to Holding Fotovoltaica.

Pizzarotti Energia owns a 13.2MWp photovoltaic (PV) solar portfolio located the municipalities of Augusta and Melilli, in the province of Syracuse.

The acquired company operates the PV solar portfolio under a 20-year concession contract that began in December 2010. The portfolio comprises the following PV plants: Campana (0.8 MWp), San Fratello (1.7 MWp), Cozzo Battaglia Nord (3 MWp) and Cozzo Battaglia Sud (7.7 MWp). The 4 facilities are connected to the grid.

With a production of 20.4 million of KWh in 2015, the PV portfolio benefits from a feed-in-tariff policy (FiT) for the power delivered to the grid.

Banca Imi has acted as financial advisor for Pizzarotti during the selling process.