IGNIS sells 656 MW Italian renewables portfolio to flyRen Energy Group

The disposal of 28 renewable energy projects across several Italian regions forms part of IGNIS's asset rotation strategy, freeing the company to pursue new growth opportunities in a market it describes as strategic. IGNIS is currently working on new generation and energy storage opportunities in several regions of Italy, alongside the development of a portfolio of large-scale data center projects in different locations to serve growing electricity demand from the digitalisation of the economy.

According to the company, the coming years will see it strengthen its presence in the country further, expanding its team and activities from renewable development towards an integrated model combining generation, grid access, storage and energy solutions for large consumers.

28 projects change hands in completed transaction

IGNIS has completed the sale of a 656 MW portfolio of renewable energy projects in Italy to flyRen Energy Group SpA, a group backed by the British fund Foresight Energy Infrastructure Partners II.

The portfolio spans 28 projects at different stages of development and includes solar photovoltaic assets, battery-hybrid projects and wind power assets, located across several regions of the country.

Developer reflects on value of multi-year build-out

The company framed the transaction as the culmination of several years of local development, land management, permitting and technical structuring work carried out by its teams in Italy, and as evidence of its ability to create value through the development of large-scale renewable energy platforms.

"We have developed a large-scale project portfolio over several years, and this transaction allows us to realise the value of that work while continuing to grow in the country. Italy is a strategic market for IGNIS, both in renewables and in new energy infrastructure and data centers. The combination of our expertise in renewable development and our ability to identify and develop solutions for large consumers puts us in a differentiated position to capture the opportunities offered by the Italian market," said Mafalda Palacios de A. e A., country manager of IGNIS in Italy.

Advisers to the transaction

ValeCap acted as financial advisor to the seller on the deal, while Green Horse Legal Advisory and DWF served as legal advisers.

IGNIS profile

IGNIS is a vertically integrated energy company providing solutions for large consumers and for new energy demand such as data centers. Founded in 2015, it promotes a more competitive, flexible and sustainable energy model, connecting the entire value chain from project development and construction through to the operation and optimisation of generation assets and energy consumers.

The company develops multi-technology projects globally and holds a leading position in renewable energy development, battery storage, grid access solutions, and decarbonisation and electrification projects.

IGNIS currently has more than 1 GW of owned generation capacity either in operation or under construction, which it combines with advanced energy and asset management to deliver integrated solutions tailored to customer needs.