ERG to buy 172MW EDP Renewables wind portfolio in Italy

Renewables developer ERG has agreed to buy seven wind farms in southern Italy from EDP Renewables for a consideration of €420 million.

The projects have a combined capacity of 172MW and are located in Basilicata, Campania and Calabria.

All of the projects are backed by 20-year contracts for difference with utility GSE.

They came online between 2018 and the end of 2021.

Closing of the transaction is expected by the end of the third quarter of 2022. When the deal is completed, ERG will have approximately 1.3GW of operational wind capacity in Italy.

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