Verbund signs agreement to acquire 250 MWp solar PV portfolio in Apulia

VERBUND has signed a cooperation agreement with the PV-Invest Group and acquired a solar photovoltaic (PV) project portfolio in Italy with a maximum capacity of 250 MWp.

The portfolio comprises a pipeline of up to 45 greenfield PV installations in Apulia, which is still in the approval phase. Each project has a capacity that is less than 10 MWp. Beginning in Q3 of 2023 and continuing through mid-2024, the solar farms will become gradually build-ready, with the majority going online by the end of 2024.

The acquisition of the project is not yet contractually tied to an investment decision, which will be made only when the projects are ready for construction and contingent on VERBUND's (profitability) criteria being met.