ENERSIDE Sells Major Agrivoltaic Project to Chint Solar in Italy

ENERSIDE has finalized the sale of a significant agrivoltaic and Battery Energy Storage System (BESS) project to Chint Solar through its Italian subsidiary, Chint Solar Italy Projects BV. The project, named "Palmadula," includes a 360 MWp solar facility and an 82.5 MWh integrated storage system positioned in Sardinia, Italy. This development ranks among Italy's most extensive single projects, covering 900 hectares with agricultural and grazing areas. Completion to a ready-to-build status is expected by 2025. Capcora GmbH served as the exclusive M&A advisor for the transaction.

The terms of the sale, conducted by a share sales and purchase agreement, remain confidential by mutual agreement of both parties involved. Jaume Solà, CFO of ENERSIDE, expressed satisfaction with this fruitful transaction that echoes the company’s strategy of capital recycling within its development activities. Oliver Schweininger, CEO of Chint Solar Europe, also conveyed enthusiasm for the acquisition, highlighting its strategic fit and potential for growth within their European portfolio.

Legal and technical advisories for the transaction included RCD Legal and the firm Legance, along with Reliable Energy Advisors. This sale underscores the importance of strategic partnerships and long-term investment in agrivoltaic and BESS operations, indicating a growing trend in the renewable energy market in Europe.