- Italy's A2A will acquire 43.2 MW solar power portfolio held by China's Talesun Group in Italy; all plants are operational
- Post completion of the acquisition, the two plan to launch a joint venture that will aim to develop up to 300 MW of grid-parity utility scale PV plants in Italy
- The two companies are targeting closing the potential joint venture by December 31, 2018, post the acquisition of assets
A new joint venture is confirmed to enter the Italian solar PV market – local utility A2A signed an agreement with TS Energy Europe S.A., a subsidiary of China’s Talesun Group. As per the plan, A2A will acquire the 43.2 MW portfolio held by the Talesun Group in Italy and post completion of the acquisition, a JV will be established that will target to jointly develop a pipeline of up to 300 MW grid-parity utility scale PV plants in Italy and offer asset management services to A2A’s PV portfolio.
The official statement from A2A was this brief, adding only that the two will target closing the potential JV by December 31, 2018, following the completion of the acquisition of the 43.2 MW portfolio.
As per the Talesun website, TS Energy Italy Spa is 100% owned by TS Energy Europe and was set up to invest in the Italian renewable energy sector. The Italian operations for the company started in February 2012 and has resulted in 39 PV plants with a total installed capacity of 43.285 MW through 9 project companies. All the plants are located in 9 different regions of Italy and were connected to the grid between December 2012 and June 2013.
A2A, on the other hand, ventured into solar in September 2017 when it acquired 18 PV plants with a total capacity of 17 MW through its subsidiary A2A Rinnovabili. It followed up this development with another acquisition of 16 PV plants with an installed capacity of 17.8 MW from Novapower, in October 2017.