- The sale of the last tranche of a total perimeter of 22 photovoltaic plants to Mareccio Energia, a platform for the aggregation of assets in Italy of a primary investment fund, in partnership with the sponsor LCF Alliance, through the vehicle company Italia T1 Roncolo, has been signed
- Total capacity of the plants subject to closing equal to 1 MW
- Net collection of the fourth tranche for TerniEnergia of approximately Euro 0.4 million
- Total value of the transaction (Enterprise Value) of approximately Euro 2.7 million
- The transaction involves the assumption by the buyer of financial debts related to the plants for approximately Euro 1.8 million
- The transaction was carried out as part of the Recovery and Relaunch Plan of the TerniEnergia Group
TerniEnergia, smart company listed on MTA of Borsa Italiana and part of the Italeaf Group, following the press releases issued,on 16 May 2019, on 6 June 2019, on 13 november 2019 and on 23 december 2019, to which reference is made, announces that a last tranche of 2 photovoltaic plants in Italy with a total installed capacity of around 1 MW, of the total perimeter covered by preliminary contracts represented by 22 photovoltaic plants with a total installed capacity of 19.3 MW, was closed for sale (by TerniEnergia itself, also through subsidiaries). The plants involved in the transaction were sold to the vehicle company Italia T1 Roncolo, headed by Mareccio Energia, a platform for the aggregation of photovoltaic plants in Italy of a leading investment fund, in partnership with the sponsor LCF Alliance.
In particular, the company Guglionesi S.r.l., joint venture between TerniEnergia and Sifip S.r.l., was sold. The purchase price for 100% of the SPV is equal to approximately Euro 0.9 million, corresponding to the Equity value determined at the reference date of June 30, 2018 (Enterprise value equal to approximately Euro 2.7 million). The transaction also provides for the assumption by the Purchasers of financial debts related to the plants for approximately Euro 1.8 million.
TerniEnergia was assisted by Grimaldi Studio Legale, as legal advisor, with a team coordinated by the Partner, lawyer Annalisa Pescatori, and by EnVent Capital Markets as financial advisor. Italia T1 Roncolo S.r.l. and LCF Alliance were assisted by the Energy Team of Rödl & Partner, with a team led by Partner Roberto Pera, as legal advisor.