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London-based Bluefield Partners LLP and Spain’s Arcano Capital SGIIC SAU have expanded the portfolio of its Italian solar acquisition platform with the addition of 7.2 MW of new photovoltaic (PV) parks in Southern Italy.
Bluefield Revive Italia l Srl, which completed its fundraising last December, has taken possession of a portfolio consisting of 10 plants, according to a recent press statement. The plants, collectively called Project Brindisi, were acquired from UK renewable energy developer Elements Green.
Financial details about the transaction were not available.
All of the acquired assets are located in the Puglia region and were energised between 2009 and 2010 and are backed under Italy’s II Conto Energia subsidy scheme. The projects’ permits will enable the future expansion of their overall installed capacity to 10 MW.
Launched in 2021, Bluefield Revive seeks to acquire and revitalise operational solar assets in Italy impacted by technical, financial, subscale or operational issues. The vehicle has a hard cap of EUR 100 million (USD 109.5m).
(EUR 1.0 = USD 1.095)
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