FRV to sell four photovoltaic power plants in Italy to Munich Re


Fotowatio Renewable Ventures has announced the sale of four of their plants in Italy. The plants, which are located in Southern Italy, have a total power of approx. 30 MW, and will be acquired by MunichRe through its asset manager MEAG.

The PV plants were built in 2010 by BP Solar through an Engineering, Procurement and Construction (EPC) agreement, and supply energy to 13,565 households.

In spite of Munich Re holding 100% of the property, Fotowatio Italia Srl, part of the FRV group, will still be in charge of the management of the four plants.

The sale is part of an asset rotation strategy carried out to study investment opportunities in other markets. This approach allowed FRV to expand in Australia by the recent win of an Australian Government tender to build and operate Australia’s first large-scale solar power station (150 MW).