ContourGlobal wraps up bargain for 18 MW of solar in Italy

• UK power generation organization ContourGlobal Plc (LON: GLO) on Wednesday introduced that it has completed the purchase of 18 MW of operating solar photovoltaic or pv (PV) nuclear power plant in Italy in collaboration with Swiss investment manager Energy Infrastructure Partners AG (EIP).

The properties were purchased for EUR 45.6 million (USD 51.3 m) via the acquisition of portfolio firm Green Hunter Group SpA.

According to the terms agreed in June, ContourGlobal has 51% of the acquired entity, with EIP holding the remaining 49%.

The British company said that the purchase will improve its mounted solar capability in the Italian market by regarding 24%. As part of a continuous local strategy with long-time partner EIP, ContourGlobal has its eye on a solid pipe of further solar chances for which the events can team up.

In Italy, the UK firm presently owns completely eighteen solar PV nuclear power plant which have a gross ability of 65 MW and also are linked to the national grid, its web site programs.