Basalt Infrastructure Partners II LP (“Basalt”) today announces the establishment of Mareccio Energia (“Mareccio”), a platform for the aggregation of small scale operational Italian solar parks. Mareccio has been established with the initial objective of acquiring 100MW of assets in partnership with sponsor, LCF Alliance, and operating partner, Belectric. LCF has been advised by EY throughout the establishment and execution of the platform.
To date the platform has entered into transaction documents to acquire an initial c.30 sites with further acquisitions scheduled for Q4 2017. Completion of the individual asset acquisitions will take place in Q3 and Q4 2017 following customary closing conditions.
Rob Gregor, Managing Partner of Basalt Infrastructure Partners LLP said, “We are excited by the opportunity to establish this scalable platform as it enables us to aggregate assets in what is a very fragmented market. Mareccio also provides us with the opportunity to build on a successful operational relationship from our first Fund which will help us deliver additional operational value over the life of the assets. The transaction expands upon the team’s existing, successful involvement with solar energy through McEwan Power in the United Kingdom and Hyperion in the United States.”
Italy is the second largest solar market in Europe with c.18GW of installed capacity, the majority of which is owned individually or in small portfolios and is geographically spread across the country. It is one of the most significant international renewable markets. In 2015, 40.5% of the total electrical production in Italy came from renewable sources.
For media inquiries
Basalt, Steven Lowry +44 (0) 20 7766 3340 press@basaltinfra.com
About Basalt
Basalt is an infrastructure equity investment fund focusing on investments in utilities, energy and transport infrastructure in the United States, Canada and Europe. The establishment of this platform is the second transaction entered into by Basalt following the acquisition of Detroit Renewable Energy which was announced in July 2017.