TerniEnergia closes sale of Euro 4.1 million photovoltaic plants

TerniEnergia, an Italian smart energy company, has reportedly announced closing the sale of 4 photovoltaic plants with a total installed capacity of about 4 MW. According to reports, these plants were sold to Italia T1 Roncolo, led by Mareccio Energia S.r.l., one of the leading platforms in Italy for the aggregation of photovoltaic plants, in collaboration with LCF Alliance.
The total price for the sale of the plants is around Euro 4.1 million. The net collection for TerniEnergia is around Euro 3.6 million which will be paid in cash. Part of the total price (around Euro O.5 million) will be transferred to Escrow account as a guarantee of the Sellers indemnity obligations and performance.
Apart from this, the deal involves assumption by the buyer of financial debts associated with the plants for around Euro 6.5 million. Whereas the total value of the transaction (Enterprise value) is slated around Euro 10.6 million.
The acquisition contract has been inked after the establishment of 4 Newco, TE NC Chieuti S.r.l., TE NC Fratta4 S.r.l., TE NC Apollosa S.r.l., and EA NC Marsciano S.r.l., which has been granted the asset portfolio composed of n. 4 plants with a capacity of around 4.1 MW held by TerniEnergia. The deal was carried out as a part of the relaunch and recovery plan of the TerniEnergia Group.
Founded in 2005, the TerniEnergia group is the first Italian global technology leader dedicated to bringing efficient recovery of integrated and sustainable resources and energy solutions to the world.
With commercial and operative offices as well as over 300 employees and a geographical presence across the world, TerniEnergia develops cutting edge services, solutions and products based on industrial and digital technologies for energy grids, supply chain, smart mobility, industrial automation and the recovery of marginal resources.
Source Credit - https://www.globenewswire.com/news-release/2019/12/23/1963839/0/en/Italeaf-TerniEnergia-signed-the-closing-for-the-sale-of-4-photovoltaic-plants-for-a-total-price-of-Euro-4-1-million.html

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