European Energy has divested two solar farm projects to Sosteneo in Mineo, Sicily, Italy.
The combined capacity of these renewable energy projects amounts to 231 MW, and both are situated in Sicily. The initial agreement pertains to a 68 MW solar farm in Ramacca, spanning 135 ha. The second agreement involves a 163 MW solar farm in Mineo. The agreements outline Sosteneo's acquisition of 100% of the shares of the Ramacca solar farm and 50% of the shares of the Mineo solar farm. Sosteneo and European Energy will collaborate in the construction and operation of the Mineo PV plant through a 50/50 partnership. Upon reaching full operational capacity, these solar farms are expected to generate 327 GWh of electricity annually, capable of powering more than 120,000 European households. This contribution aligns with the Italian Green Deal, aiding in the avoidance of over 150,000 tonnes of CO2 emissions annually compared to conventional fossil fuel usage.
European Energy received support in the transaction from legal advisor Green Horse and technical advisor EOS.
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