Inframation by Infralogic

EOS Investment Management has added another 42 MW solar PV plant to its existing portfolio of clean energy projects, which now total some 250 MW of capacity.

The London-headquartered asset manager disclosed on Monday (22 May) the acquisition of the solar PV plant which will be built on industrial land in Sardinia, at a cost of EUR 45m.

The asset is an unsubsidized photovoltaic plant which has already been authorized, and which will produce energy for some 30,000 households.

The acquisition, from an undisclosed seller, was made through EOS Renewable Infrastructure Fund II.

EOS IM CEO and founding partner Ciro Mongillo said that the company aims to acquire and manage utility-scale solar plants such as the one in Sardinia, in line with its investment strategy of focusing on larger projects.

Advisors on the deal included Dentons (legal), RINA (technical), PwC (financial and tax) and KPMG (ESG).

As a result of the acquisition, EOS IM has exceeded a capacity of 250 MW between projects under construction and in operation.

Earlier this year, it agreed to buy a further portfolio of development-stage solar PV projects across Italy requiring a combined investment of up to EUR 400m. The seller was an investment platform controlled by Italian energy developer and investor IGEFI Group.

These assets, located in the regions of Sardinia, Sicily and Apulia, will have a total capacity of circa 380 MW and are due to complete their permitting process within this year.

EOS Renewable Infrastructure Fund II was launched in 2020 and specialises in the development of subsidy-free renewable energy projects. The fund's LPs include Italian pension funds Cassa Forense, Inarcassa, ENPAV and Fonda BCC, as well as insurance group Reale Mutua, among others.

Last September, EOS IM and asset manager Capital Dynamics began building a 87 MW solar PV project in the Lazio region, having raised debt from UniCredit and ING earlier in the year.

Press Review