Renewable energy-focused private equity investor Amplio has secured €40 million of funding to develop a series of solar power plants in Italy over the next two years.
Amplio: funding secured
The funds raised will go towards the development of a pipeline of around 100 megawatts of photovoltaic solar plants in the country, in addition to the purchase of a site for a 3 megawatt plant which is currently under construction. Amplio said in a statement it also has a further 15 megawatts of solar capacity lined up in the final permitting stages.
The new plant’s assets will be managed by Amplio Solar, a new division of the Amplio Group.
80 percent of the financing was provided by an undisclosed local Italian bank, with the remainder coming from institutional investors.
Amplio is looking to achieve a target of between 80 and 100 megawatts in its portfolio.
Amplio Partners is headed by Riccardo Segat, a former partner at AMP Private Capital. Its previous investments include water and industrial fluid filtration company Amafilter Group and wind farm developer and operator Maestrale Green Energy.