Octopus Renewables offloads 173MW Italian solar

• Purchase positions customer A2A as Italy's second largest renewables operator by mounted ability

Octopus Renewables has actually signed a binding agreement for the sale of 173MW of solar plants in Italy to Italian renewables operator A2A.

The portfolio comprises 17 solar plants as well as is the biggest vendor portfolio of plants in Italy, without GSE motivations, of which 9 are located in Lazio as well as eight in Sardinia.

Octopus Renewables is a mutual fund of UK-based Octopus Investments.

The money factor to consider paid for the portfolio is EUR205m.

A2A Chief Executive Officer Renato Mazzoncini said: "With the purchase of these 17 plants, we consolidate our setting as the second biggest operator in renewables by installed capability in Italy as well as raise the amount of green energy offered to customers".

With the enhancement of the 17 solar plants from Octopus A2A's solar portfolio is 284MW.

A2A was recommended by law practice Herbert Smith Freehills on the transaction as well as Octopus by Linklaters.