Italian utility A2A SpA (BIT:A2A) will grow its footprint in its home market by acquiring a majority stake in a company holding the rights to a 112.1-MWp solar photovoltaic (PV) park in Northern Italy.
The company said on Tuesday it has bought 70% of Parco Solare Friulano 2, a company of EnValue Italia and MSE Solar Energy Italia that owns the permit for building and operating the solar farm. Financial details about the investment were not available.
The proposed PV park will be installed in the municipalities of Santa Maria the Longa and Pavia di Udine in the northeastern region of Friuli-Venezia Giulia. It will be sited close to a 59.1-MWp solar plant in the same municipality, which A2A was cleared to build in 2022.
The transaction was carried out in line with A2A’s goal to expand its installed renewable energy fleet to 5.7 GW by 2035. Back in 2021, the utility pledged to spend EUR 16 billion (USD 17.2bn) by the end of the decade for energy transition, including over EUR 4 billion for investments and acquisitions in the renewables field.
(EUR 1.0 = USD 1.074)
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