ERG to acquire 33.8 MW Dutch PV outfit

• MP Solar has 18 sites in Italy greatly put into service in 2011

ERG, with its subsidiary ERG Power Generation, has authorized an agreement to acquire 100% of the resources of MP Solar, a Dutch business possessed by the ABN AMRO Sustainable Impact Fund PE.

MP Solar is the proprietor of eighteen solar systems in operation with 7 Italian SPVs found in Puglia, Molise, Lazio as well as Sardinia, with a total mounted capacity of 33.8 MW and general annual production of 46GWh.

These systems were mostly put into solution in 2011, and also take advantage of the Conto Energia (II, III, IV) tariff regime.

The purchase amount in regards to enterprise worth since 31/12/2021 is EUR128m, as well as the 2021 EBITDA is EUR16.6 m.

The closing of the agreement will certainly happen in July 2022.

ERG chief executive Paolo Merli said: "This purchase settles ERG's presence in the Italian solar market in accordance with the technique of technical diversification envisaged in the 2022-2026 company plan.

" The agreement will allow us to achieve commercial harmonies with incorporating the systems within our profile and also to execute sprucing up treatments on chosen projects."

For the deal, UniCredit served in the role of monetary advisor, Bird & Bird the role of legal adviser, Ernst & Young the role of audit as well as tax adviser and also DNV-GL the role of technological adviser.