Acea announced that it has signed an agreement with the British investor of infrastructure funds, Equitix Investment Management Limited, for the sale of a majority stake in the newly established company “HoldCo”, to which Acea’s photovoltaic assets have already been transferred. in operation or being connected to the grid in Italy. This was announced by Acea in a press release in which it indicated that Equitix will acquire a 60% stake in “HoldCo”, to which a portfolio of photovoltaic plants currently owned by Acea Sun Capital will be transferred.
Acea will maintain management of the plants through the stipulation of multi-year contracts with HoldCo and the Acea group will also be responsible for the withdrawal of the energy produced by the new plants on the basis of long-term energy purchase contracts (PPA). This operation is part of the 2020/2024 Business Plan, presented by Acea in October 2020 and aims to accelerate the growth of the group in the renewable energy sector.
Equita analysts believe that this operation, with enterprise value referring to 100% of the plant portfolio equal to 220 million euros, is positive for Acea which will be able to finance growth in renewables and at the same time have certified green energy for its own growth. in the energy sales sector. The opinion of the Equita experts remains a buy on the Acea share, with a target of 22.5 euros against a current price of 18.72 euros per share.