The Project comprises a 2.52 MWp plant with bifacial modules on single-axis trackers and a 2.50 MW grid injection capacity, with an accepted medium-voltage grid connection solution from the local distribution system operator (DSO) and the land secured through preliminary surface-rights agreements.
Construction is currently scheduled to start in Q1 2027. The opportunity is suited to IPPs, infrastructure and energy-transition funds, and industrial investors seeking a mid-size, near-construction position in the Italian solar market.
INVESTMENT HIGHLIGHTS
- Secured grid access: 20 kV MV connection solution issued by the DSO, amended to an underground-cable route and accepted in May 2024; 30% of the connection fee already paid and the detailed design of the grid works (PTO) submitted in November 2024.
- Efficient technology: 3,528 bifacial monocrystalline 715 Wp modules on single-axis trackers, 8 × 320 kW string inverters and a 1,600 kVA transformer, delivering a specific yield of c. 1,460 kWh/kWp.
- Compact, low-impact footprint: the plant occupies c. 1.06 ha of a c. 4.8 ha site (c. 22% coverage) on land zoned as building land, reducing land-use and landscape sensitivities.
- Competitive cost base: total CAPEX of c. €2.28m (c. €0.91/Wp), with annual operating costs of c. €65k.
- Attractive cash generation: expected revenues of c. €313k p.a. and EBITDA of c. €248k p.a. (c. 79% margin) based on Seller estimates.
- Supportive market: Italy’s National Energy and Climate Plan (PNIEC) targets c. 80 GW of installed solar PV by 2030, underpinning demand for construction-ready capacity.
KEY PROJECT DATA
| Location |
Abruzzo region, Central Italy |
| Technology |
Ground-mounted PV, bifacial monocrystalline modules (715 Wp class) on single-axis trackers |
| Installed capacity (DC) |
2,522.52 kWp (3,528 modules; 126 strings of 28 modules) |
| Grid injection capacity (AC) |
2,500 kW |
| Inverters / transformer |
8 × 320 kW (2,560 kW total) / 1 × 1,600 kVA |
| Expected production |
3,683 MWh/year (1,460 equivalent hours) |
| Site area |
48,090 m² cadastral area; 10,566 m² plant area (c. 22%) |
| Land rights |
Preliminary surface-rights agreements with the landowners for c. €29k per year in aggregate |
| Permitting route |
Single Regional Authorisation (Autorizzazione Unica) including zoning change to industrial use |
| Grid connection |
New customer delivery substation (DSO standard box) connected in-out on an existing 20 kV MV line; c. 1.8 km underground Al 185 mm² cable; 103 working days for DSO works |
| Expected start of construction |
1 March 2027 |
DEVELOPMENT STATUS & MILESTONES
| June 2023 |
Grid connection request submitted to the DSO |
| September 2023 |
First connection quote received |
| February 2024 |
Amendment requested for an underground cable solution |
| May 2024 |
Amended connection quote received and accepted (connection fee €246k excl. VAT; 30% paid) |
| November 2024 |
Detailed design of the grid connection works (PTO) submitted |
| Q1 2027 |
Expected start of construction |
Note: status of the Single Regional Authorisation and validity of the grid solution to be confirmed in the data room.
INDICATIVE ECONOMICS (SELLER ESTIMATES)
| Total CAPEX |
€2,283,421 (c. €0.91/Wp) |
| Expected annual revenue |
€313,045 (implied c. €85/MWh) |
| Annual operating costs |
€65,314 |
| Expected annual EBITDA |
c. €247,700 (c. 79% margin) |
| Grid connection cost |
€246,211 excl. VAT (€73,863 paid; c. €37,789 refundable by the DSO after testing if the grid works are self-built) |
| Illustrative unlevered pre-tax IRR |
c. 9–10% |
Illustrative IRR computed by MergersCorp on Seller figures: 25–30-year life, flat revenue and operating costs, 0.4% annual module degradation, no leverage, no tax and no terminal value. For indicative purposes only.
PROPOSED TRANSACTION & PROCESS
- Perimeter: acquisition of 100% of the project company holding the Project’s rights, permits, grid connection and land agreements.
- Structure: share deal (to be confirmed); consideration and payment terms to be proposed by bidders.
- Next steps: execution of a Non-Disclosure Agreement, followed by access to an Information Memorandum and virtual data room, and submission of non-binding indications of interest.
