The acquisition bolsters EOS Investment Management Group’s (EOS IM) presence as a prominent investor in Italy. Credit: Lightsource bp Renewable Energy Investments.

UK-based renewables developer Lightsource bp has finalised the sale of six solar projects across Italy to EOS IM, an independent asset manager.

The acquisition, conducted through EOS IM’s EOS ReNewable Infra Fund II, marks a significant expansion for EOS IM’s clean energy portfolio.

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The projects, either fully permitted or nearing the end of the development phase, will begin construction in 2024.

The portfolio includes a range of agri-photovoltaic projects, combining renewable energy production with agricultural activities.

Their design accommodates sheep grazing and the cultivation of olives, pistachios, oranges and other local crops, promoting both sustainable energy and biodiversity.

EOS IM managing partner Natalino Mongillo stated: “This acquisition further enriches the portfolio of our second clean energy infrastructure fund, bringing it to over 370MW of assets either operational or under construction and a portfolio of projects close to being permitted totalling 600MW of capacity.

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“This transaction is further consolidating our position as one of the most dynamic independent players in the energy transition sector in Italy”.

With a dedicated team of 30 local professionals, Lightsource bp is advancing more than 1GW of mature solar projects and a significant energy storage pipeline.

Lightsource bp Italy country head Giovanni Mascari stated: “The demand for homegrown, secure and renewable electricity is soaring. Deals like this enable us to reinvest and amplify our ability to deliver clean electrons to the utilities and businesses that need them, as we contribute to advance the energy transition on a global scale.

“We are excited to watch these projects progress and even more to see the opportunities they unlock for the future of both energy transition and local economy in Italy.”