Lightsource bp sells 294MW solar portfolio in Italy to EOS IM

Solar developer Lightsource bp announced on Wednesday that it will sell a 294-MW project portfolio in Italy to EOS Investment Management Group (EOS IM) for an undisclosed amount.

Lightsource bp said in a statement that it has agreed to sell six Italian solar greenfield projects and then reinvest the sale proceeds in other local schemes. It noted that its Italian staff is progressing over 1 GW of mature solar projects and a substantial energy storage pipeline.

The portfolio being divested is made up of projects that are either permitted or in the late stages of development with a construction start planned for the next 12 months. It includes various agri-photovoltaic initiatives such as providing opportunities for sheep grazing, honey production and the plantation of olive, pistachio and orange trees, along with other local crops.

In turn, the acquisition expands the portfolio of the asset manager’s EOS ReNewable Infra Fund II.

"This acquisition further enriches the portfolio of our second clean energy infrastructure fund, bringing it to over 370 MW of assets either operational or under construction and a portfolio of projects close to being permitted totalling 600 MW of capacity," commented Natalino Mongillo, Managing Partner at EOS IM.