IGNIS has successfully completed the sale of a 656 MW portfolio of renewable energy projects in Italy to flyRen Energy Group SpA, a group backed by the British fund Foresight Energy Infrastructure Partners II.

The transaction encompasses 28 projects at different stages of development, located across several regions of the country, and includes solar photovoltaic assets, battery-hybrid projects and wind power assets.

Years of development work culminate in the sale

The deal marks the culmination of several years of local development, land management, permitting and technical structuring work carried out by IGNIS teams in Italy. According to the company, the transaction demonstrates its ability to create value through the development of large-scale renewable energy platforms.

ValeCap acted as financial advisor to the seller, while Green Horse Legal Advisory and DWF served as legal advisers on the transaction.

Part of a wider asset rotation strategy

The sale forms part of IGNIS's asset rotation strategy and will enable the company to continue pursuing new growth opportunities in Italy, which the company describes as one of its strategic markets. IGNIS is currently working on new generation and energy storage opportunities across several regions of the country.

That activity is complemented by the development of a portfolio of large-scale data center projects in different locations, in response to growing electricity demand driven by the digitalisation of the economy.

In the coming years, IGNIS says it will further strengthen its presence in the country, expanding its team and activities from renewable development towards an integrated model combining generation, grid access, storage and energy solutions for large consumers.

Comment from IGNIS Italy

"We have developed a large-scale project portfolio over several years, and this transaction allows us to realise the value of that work while continuing to grow in the country. Italy is a strategic market for IGNIS, both in renewables and in new energy infrastructure and data centers. The combination of our expertise in renewable development and our ability to identify and develop solutions for large consumers puts us in a differentiated position to capture the opportunities offered by the Italian market," said Mafalda Palacios de A. e A., country manager of IGNIS in Italy.

About IGNIS

IGNIS is a vertically integrated energy company that provides solutions for large consumers and for new energy demand, such as data centers. Founded in 2015, it promotes a more competitive, flexible and sustainable energy model, connecting the entire value chain from the development and construction of projects to the operation and optimisation of generation assets and energy consumers.

The company develops multi-technology projects globally and holds a leading position in renewable energy development, battery storage, grid access solutions, and decarbonisation and electrification projects.

IGNIS currently has more than 1 GW of owned generation capacity either in operation or under construction, and combines these capabilities with advanced energy and asset management to deliver integrated solutions tailored to customer needs.

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