London-based private equity firm Terra Firma Capital Partners has bought Nuova Rete Solare (NRTS) from Terna subsidiary SunTergrid, AltAssets reports. The €264 million deal was completed via the acquisition of all the shares in the 78.5 MW solar power facility.
The transaction yielded gross proceeds of approximately €69 million. The profit from the sale will partially contribute to Terna’s 2011 dividend. As per the agreement, Terna will continue to supply maintenance, surveillance and monitoring services at the plants, adds Renewable Energy Magazine.
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