Altea Green Power acquires its first proprietary photovoltaic plant

(Alliance News) - Altea Green Power Spa announced Wednesday the acquisition of a photovoltaic plant located in Montecchio Emilia, in the province of Reggio Emilia, strengthening its position in the renewable energy market and implementing the strategy outlined in its 2024-2028 business plan.

The transaction involves the purchase of 100% of SPV NB5 Srl, the owner of the 16.75 MW photovoltaic asset, which has been operational since January 2024. Furthermore, starting from July 2025, the plant will benefit from a 20-year FER 1 incentive tariff.

The total price of the transaction is approximately EUR17 million, of which approximately EUR16 million represents the value of the photovoltaic plant and approximately EUR1 million corresponds to positive net working capital components.

'This acquisition represents a further step in Altea Green Power's growth path, in line with the evolution of the business model outlined in the 2024-2028 business plan, which envisages the progressive strengthening of the company's role as an independent power producer, complementing its development activities with the direct ownership and management of assets', the company stated.

Giovanni Di Pascale, CEO of Altea Green Power, commented: 'This operation is a concrete piece of the strategy we defined in the 24-28 business plan presented in 2024, aimed at supporting our core business with increasingly direct control over the industrial phase as an Independent Power Producer. The acquisition of an operational, subsidized asset in Emilia Romagna with solid cash generation prospects allows us to take a significant step in this direction, further strengthening our positioning. We look to the future with the goal of seizing similar opportunities, in line with our industrial vision and our commitment to creating sustainable long-term value'.

Altea Green Power shares are up 0.1% at EUR7.19 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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