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.
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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.
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The new plant’s assets will be managed by Amplio Solar, a new division of the Amplio Group.
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80 percent of the financing was provided by an undisclosed local Italian bank, with the remainder coming from institutional investors.
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Amplio is looking to achieve a target of between 80 and 100 megawatts in its portfolio.
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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.