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Dubai-based Adenium Capital has acquired a 24MW solar photovoltaic (PV) park in partnership with investment firm ForVEI in southern Italy for US$52mn
The Calabria solar park has been identified as one of the 10 largest solar plants in Italy, completed by Talesun Solar Switzerland AG, a Swiss subsidiary of Chinese solar panel manufacturer Zonghli Talesun Solar.
ForVEI is a joint venture comprising VEI Capital, CDC Infrastructure, Foresight Solar VCT, Quercus Renewable Energy and Adenium Solar Energy.
Adenium chief operating officer Jeremy Crane said, “We are excited about our latest acquisition, growing our ForVEI portfolio to 54MW. 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 more than 100MW in the course of the next 12 months.”
This acquisition will follow ForVEI’s 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.