London, Milan – January 31, 2024 - EOS Investment Management Group (EOS IM), independent asset manager specialised in promoting alternative investment funds focussed on the energy and the sustainable transition, and Lightsource bp, a global leader in the development and management of solar energy projects, have agreed the sale of six solar greenfield projects in Italy to EOS IM.

In particular, EOS IM, through EOS ReNewable Infra Fund II, will add the 294MW portfolio to its existing solar power assets in Italy.

The portfolio is currently either permitted or in the late stages of development with construction expected to begin in the next 12 months.

The transaction enables Lightsource bp to reinvest and further extend its reach in the Italian market where its 30 local staff members are progressing more than 1GW of mature solar project opportunities and a substantial energy storage pipeline in the country. This milestone agreement allows EOS IM to consolidate its position as one of the most active independent investors in the Italian clean energy space.

The portfolio includes various agri-photovoltaic (agri-PV) initiatives with the projects designed to host sheep grazing, honey production and the plantation of olive, pistachio and orange trees as well as other local crops, allowing both eco-friendly power generation and biodiversity protection.

“The demand for homegrown, secure and renewable electricity is soaring. Deals like this enable us to reinvest and amplify our ability to deliver clean electrons to the utilities and businesses that need them, as we contribute to advance the energy transition on a global scale. We’re excited to watch these projects progress and even more to see the opportunities they unlock for the future of both energy transition and local economy in Italy” said Giovanni Mascari, Country Head Italy at Lightsource bp.

"This acquisition further enriches the portfolio of our second clean energy infrastructure fund, bringing it to over 370MW of assets either operational or under construction and a portfolio of projects close to being permitted totalling 600MW of capacity. This transaction is further consolidating our position as one of the most dynamic independent players in the energy transition sector in Italy" commented Natalino Mongillo, Managing Partner at EOS IM. "We are indeed pleased to collaborate with Lightsource bp, a worldwide leader in solar energy project development and management, through a partnership built on three fundamental, shared pillars: Energy, Environment, and People” added Giuseppe La Loggia, Senior Partner at EOS IM Group.

Press Release