Spain's Powertis signs co-development deal for 340 MW of solar in Italy

• Spanish company Powertis SAU has struck an agreement with Italian group Acea SpA to co-develop 340 MW of solar PV projects in Italy.

The bargain was introduced on Thursday by Spanish solar energy specialist and also trackers manufacturer Soltec Power Holdings SA (BME: SOL), the parent company of Powertis. No other information were revealed.

Powertis got here in Italy in 2020 with strategies to develop a PV project portfolio worth 500 MW. Later that year, the firm safeguarded a partner in German financial investment manager Aquila Capital on the growth of approximately 750 MW of solar PV projects in Italy. Under the plan, Powertis would market its 51% risk in the projects to Aquila and offer the German financier the choice to acquire the rest as soon as specific conditions were met.

By the end of 2021, Powertis and also Aquila had increased their initial collaboration as well as ended up signing purchases involving over 1,193 MW of solar and also power storage projects in Italy.

At the end of the first semester 2022, Powertis had more than 3,000 MW of projects in numerous stages of growth in Italy, Soltec claimed.