Italian solar business changes hands

• The operations as well as maintenance and the design, procurement and construction arms of PV firm Enerray have been sold by troubled commercial empire Gruppo Industriale Maccaferri for cash, moving 240 MWp of Italian generation capacity to the administration of competing LT Renewables.

The Green Deal for Europe and backing from the Italian government will see the country include 1.1 GWp of new tidy power ability every year for the following decade, according to the PV plant procedures as well as upkeep (O&M) companies which has actually taken ownership of the rival service of Enerray.

The lift for clean power financial investment will certainly see Italy development from 22 GWp of solar generation ability today to 30 GWp "in the coming years," O&M company LT Renewables said today, as it announced the procurement of Enerray's O&M and engineering, procurement and construction tasks from troubled industrial moms and dad firm Gruppo Industriale Maccaferri.

Milan-based LT Renewables did not disclose the price paid for Enerray but informed pv magazine it was paid in cash money and also did not entail ofsetting for cash owed. A spokesperson for the O&M carrier-- which now claims to have 500 MWp under monitoring, up from 220 MWp at the start of the year-- told pv publication no tasks would be lost at Enerray as part of the purchase. The Enerray purchase brought 240 MWp of solar plant O&M work to the LT profile, added the spokesperson, in the form of around 250 tasks throughout Italy.

Debt restructure

Family-owned international Maccaferri announced in March it planned to sell non-strategic organisations, including Enerray, as part of a debt restructuring plan which would certainly safeguard its core production activity.

LT Renewables kept in mind the consolidation being experienced in the Italian solar industry with the biggest ten project property proprietors making up 2 GWp of generation ability.

A statement issued by LT to introduce the Enerray procurement said: "Italy gets on the dawn of a brand-new period of growth in brand-new set up capacity of renewable energy thanks to nationwide and also European policies that sustain the ... energy change ... The Italian government and the European Union have actually supplied considerable financing for the market thanks to the Green New Deal. In order to achieve these objectives, regarding 1.1 GWp (EUR1 billion) annually of new installments are expected for the following 10 years ... The solar PV market shall therefore get to a 30 GWp installed capacity in the coming years."