The board of directors of TerniEnergia SpA (Narni, Italy) has approved the transfer of a 50% share in two joint ventures (JVs) to EDF EN Italy SpA (Rome, Italy). The two JVs hold 25 solar photovoltaic (PV) plants totaling 30.4 MW.

The two transactions will go into effect on December 31st, 2012 and June 30th, 2012. EDF EN will post a deposit of EUR 300,000 (USD 400,000) for JV Energie Ltd., however final purchase prices have yet to be determined.

"Transactions initiated with EDF EN Italy represent the formal beginning of a process of valuation of assets represented by the ownership of industrial-sized photovoltaic plants," stated TerniEnergia Chairman and CEO Stefano Neri.

"The rationalization of the investment is, in fact, strategic to optimize revenues from power generation and to improve operational efficiency in the management of photovoltaic plants and in the sale of energy."


EDF EN to pay balance for Energie Ltd. by March 31st

The first JV, Energie Ltd. owns 13 solar photovoltaic (PV) plants totaling 16.5 MW, for an estimated value of EUR 61.6 million (USD 81.5 million). The second JV, EnergieAlternativa Ltd. owns another 12 PV plants totaling 13.9 MW.

EDF EN will pay the balance for Energie Ltd. by March 31st, 2013.

2012-12-29 | Courtesy: TerniEnergia  | solarserver.com © Heindl Server GmbH

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