Shell Acquires Italian Solar Company

• Shell Renewables & Energy Solutions has announced acquisition of solar-konzept Italia through Shell Italy
• The acquisition takes the company's total solar development pipeline in Italy to around 2 GW
• Headed by Ivan Niosi, Shell Italy will continue to pursue new projects and explore corporate PPAs for the capacity

Royal Dutch Shell's renewable energy business unit Shell Renewables & Energy Solutions has expanded its presence in the Italian solar market with the acquisition of solar-konzept Italia Srl (SKI), increasing its solar development pipeline in the country to around 2 GW.

SKI with its 10-member team, with its agrivoltaic project development experience, will be integrated into Shell Italy making the latter one of the leading solar developers in the country, stated the management.

"The team will develop the combined portfolio, continue to pursue new projects, and support our corporate power purchase agreement (PPA) offerings to customers," said Head of Head of Renewables Power Development Shell Italy and newly appointed CEO of solar-konzept Italia, Ivan Niosi.

Interestingly, for Aquila Capital owned Solar Konzept International it is the 2^nd big sell off within days that too to another fossil fuel player as recently it completed sale of Solar Konzept Greece to Italian oil and gas multinational Eni (see Eni Acquires Greek Solar Company).