Peridot Solar Takes Over a 135 MW Agrivoltaic Project in Sicily from Iqony Solar Energy Solutions Italia

Peridot Solar, a company of the British investment fund FitzWalter Capital, which specializes in the development of photovoltaic projects, has taken over from Iqony Solar Energy Solutions Italia srl – Sens, a global player in the renewable energy sector with headquarters in Germany, a 135 MW agrivoltaic project located in Sicily.

The Green Horse Legal Advisory team handled the negotiation and preparation of the project contract, which also includes the construction of a substation to be later transferred to Terna and the related sharing agreement, regulatory and due diligence aspects, and also financial aspects.

DWF, on the other hand, worked alongside the seller, Iqony Solar Energy Solutions Italia – Sens, handling the preparation and negotiation of the project contracts, including the grid infrastructure sharing agreement for the self-building of the high-voltage electrical substation to be sold to Terna, and the acquisition agreement.

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Peridot Solar invests in a wide range of sectors

Only a few days ago Peridot Solar had secured with Infranity, an infrastructure investment company and part of Generali Investments, a €120 million bilateral financing for the construction of 7 photovoltaic plants in Italy with a total capacity of 178 MW, while at the end of March, it had started a series of projects in the heart of Sicily, with a total capacity of 146 MW and a counter value of about €150 million,

Peridot Solar, a company in FitzWalter Capital’s portfolio, which invests in a wide range of sectors and asset classes, including corporations, real estate, renewable energy, and aircraft, has 271MW of photovoltaic projects under construction in Italy that will be ready between next June and January 2025, and more than 700 MW under approval with an agri-voltaic set-up that therefore combines power generation and agricultural products to be carried out with the cooperation of local farms. The company also has more than 1 GW of projects between Italy and the UK and is looking to develop and build 5 GW by 2026.

As for Sens, it specializes in the development and construction of large-scale turnkey solar parks, as well as complete energy solutions for industrial applications. The company, based in Würzburg, Germany, also offers individual energy consulting services through its energy monitor energy management software. Iqony Solar Energy Solutions (Italy) srl (formerly Gildemeister energy services Italia) is the Italian subsidiary of the group, which, in addition to Germany, also has subsidiaries in Portugal, Spain, and the United Kingdom.

Founded in 2009, the company is headquartered in Milan and has 3 other offices and 14 service points throughout the country, one of the largest of which is in Lecce, Italy. The Italian division consists of 50 people involved in project development, construction, maintenance, and operational management of photovoltaic systems (ground and rooftop projects). In Italy, Sens has four solar farms in Ginosa (Ta), 6.5 MWP; Caputo Alessandro (Ta), 1 MWP; San Cassiano (Le), 1 MWP; and Carlino (Ud), 21.6 MWP.

Two years ago, Sens, when it was still called Steag Solar Energy Solutions (Sens), had obtained two loans on a project finance basis from Bpce Lease sa, articulated on different long-term credit lines for a total of €19.5 million, intended to facilitate the construction of three photovoltaic plants in Emilia-Romagna and Piedmont, with a total capacity of about 20 MW.

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(Featured image by seagul via Pixabay)

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