TerniEnergia closes sale of 4.1 MW of Italian solar plants

TerniEnergia SpA (BIT:TER) has completed the divestment of four Italian solar power parks with a combined capacity of 4.1 MW to Mareccio Energia Srl in partnership with LCF Alliance.

The four assets represent the second tranche of a larger portfolio of 22 solar parks with a combined capacity of 19.3 MW that TerniEnergia in June agreed to sell to Mareccio Energia. The 4 MW of assets were offloaded for a cash amount of EUR 4.1m (USD 4.5m), of which TerniEnergia will get EUR 3.6 million net, the Italian firm, part of Italieaf Group, said on Monday.

The transaction includes the assumption of financial debt related to the power plants totalling EUR 6.5 million.

The sale was carried out as part of TerniEnergia's Recovery and Relaunch plan for 2018-2022, aimed at restoring the financial and equity balance of the company.