Sale of Italian wind farm closed
Mar 25, 2019
European Energy has today completed the divestment of the 39 MW Bosco Le Piane Wind Farm.
The Bosco Le Piane Wind Farm is located in the Basilicata region in southern Italy. The project consists of 13 Siemens Gamesa Renewable Energy wind turbines and is expected to be completed in September 2018.
Knud Erik Andersen, Co-Founder and CEO of European Energy A/S, said:
“We have had a constructive dialogue with Quercus and we have come to appreciate their professionalism and focus on driving the process forward. Therefore, I am proud that Quercus has chosen one of our projects for their portfolio. This is the first transaction we have done with Quercus and I believe we can grow the relationship in the future.”
Diego Biasi, Co-Founder and Managing Director of Quercus, commented:
“Our asset portfolio is of the highest quality not only in Italy but also in Europe. The Bosco Le Piane wind farm allows us to increase the installed capacity of wind assets in our funds and profitability for our investors. We continue to focus on Italy and the main strategic European areas to consolidate our leadership position in the renewable energy market”.
The transaction, worth approximately 80 million euros of Enterprise Value, will contribute to serving 13.000 households with clean electricity from the park.
About Quercus Assets Selection:
Founded in 2010 by Diego Biasi, the current CEO, and Simone Borla, Quercus Assets Selection is one of the foremost European funds specialising in renewable energy. From foundation to present, the fund has managed five different technology and investment policy strategies: from construction to M&A activity. It has to its credit a Joint Venture with the UK government in the English biomass sector and with Swiss Life in the Italian photovoltaic market for large-scale facilities.
About European Energy:
European Energy constructs wind and solar farms as well as large-scale green energy storage and have constructed more than 1 GW of generating capacity.