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Spain's Powertis signs co-development deal for 340 MW of solar in Italy


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    September 8 (Renewables Now) - Spanish firm Powertis SAU has struck an agreement with Italian group Acea SpA to co-develop 340 MW of solar PV projects in Italy.

    The deal was announced on Thursday by Spanish solar energy specialist and trackers maker Soltec Power Holdings SA (BME:SOL), the parent company of Powertis. No other details were disclosed.

    Powertis arrived in Italy in 2020 with plans to develop a PV project portfolio worth 500 MW. Later that year, the firm secured a partner in German investment manager Aquila Capital on the development of up to 750 MW of solar PV projects in Italy. Under the arrangement, Powertis would sell its 51% stake in the projects to Aquila and give the German investor the option to acquire the remainder once certain conditions were met.

    By the end of 2021, Powertis and Aquila had expanded their original partnership and ended up signing transactions involving over 1,193 MW of solar and energy storage projects in Italy.

    At the end of the first semester 2022, Powertis had over 3,000 MW of projects in various stages of development in Italy, Soltec said.

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