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Octopus Renewables agrees sale of 173MW portfolio of unsubsidised Italian solar

15 Feb 2021

Octopus Renewables, the specialist clean energy investor arm of Octopus Group, has signed binding contracts with Italian utility A2A for the sale of a 173MW portfolio of unsubsidised Italian solar projects, at an equity value of €205m. The portfolio covers nine sites in the Lazio region just north of Rome and eight on the island of Sardinia.

Matt Setchell, co-head of Octopus Renewables, said:
“This investment from A2A is an exciting transaction that demonstrates the attractiveness of subsidy free renewable energy in Europe. Over the past five years Octopus Renewables has managed the construction, financing and power price hedging of this portfolio, one of the first large scale portfolios of its kind.

“The nature of these sites makes them well suited for the addition of energy storage and hydrogen infrastructure, while the absence of subsidies and a forward looking PPA strategy allows these new technologies to be easily accommodated. This transaction also demonstrates that unsubsidised investment models can be viable and we will continue to invest in merchant assets across multiple European markets”. 

Octopus Renewables was advised by Rothschild & Co as financial advisor, by Linklaters for legal and Moroni & Partners for technical matters.


For journalists in their professional capacity only. Personal opinions may change and should not be seen as advice or a recommendation. Octopus Renewables is a trading name of Octopus Investments, which is authorised and regulated by the Financial Conduct Authority. The information contained within this press release does not constitute an offer or inducement to participate in a collective investment scheme, alternative investment fund or any other financial product and may not be treated as an offer or inducement in any jurisdiction where such an offer or inducement is against the law, or to anyone to whom it is unlawful to make such an offer or solicitation, or if the person making the offer or solicitation is not qualified to do so. Our investments place investors’ capital at risk and they may not get back the full amount invested. This promotion does not offer investment or tax advice and this product is not suitable for everyone. We recommend investors seek independent investment and tax advice before investing in our products. Octopus Investments Limited is authorised and regulated by the Financial Conduct Authority. Registered office: 33 Holborn, London EC1N 2HT. Registered in England and Wales No. 3942880. We record our telephone calls. Issued: February 2021.