ADENIUM SOLAR ACQUIRES 24MW PV PLANT IN ITALY

in Middle East Solar News

Dubai, 22th July 2013 – Adenium Capital, in partnership with  ForVEI, acquired a 24 MW solar park in southern Italy for €52 million. Calabria solar park is one of the ten largest solar plants in Italy, completed by Talesun Solar Switzerland AG (“Talesun”) a Swiss subsidiary of Zonghli Talesun Solar Co Ltd, the leading Chinese solar panel manufacturer. Foresight Group was the lead advisor for the transaction.

ForVEI is a joint venture comprising VEI Capital, CDC Infrastructure, Foresight Solar VCT, Quercus Renewable Energy and Adenium Solar Energy.

Adenium Capital, Dubai based investment company, is focused on investments in renewable energy infrastructure projects with a main focus on solar power. Currently Adenium is active in Italy, Jordan and Japan. In addition, Adenium is currently negotiating additional Italian solar transactions for direct investments.

Jeremy Crane, Chief Operating Officer of Adenium, stated: “We are excited about our latest acquisition, growing our ForVEI portfolio to 54 MW. Calabria is a very attractive asset that fits perfectly with our growth expectations for the first half of 2013. We continue to be bullish on the Italian PV market and look forward to working with our partners to increase ForVEI to over 100MW over the course of the next 12 months”.

This acquisition follows ForVEI’s innovative lease-back financing acquisition of the OPDE portfolio in 2011, which at that time represented the largest lease financing of PV plants arranged by a single bank in Italy.

About Adenium:

 

Adenium Energy Capital was launched in early 2010 as an investment company, specializing in the investment and development of clean energy and alternative energy – related sectors. The Dubai based investment company’s mandate is to build a diversified global portfolio of clean energy assets with an initial focus on the European, Middle Eastern, Asian and North American solar markets. Adenium currently co-manages over 100 MW of solar projects under operation and development.

For more information about Adenium Energy Capital, go to www.adeniumcapital.com