ERG acquired a 78.5% stake in two photovoltaic plants from Aream for £200m.

ERG, a publicly listed Italian energy company, acquired a 78.5% stake in two photovoltaic plants from Aream for £200m. Luca Bettonte, ERG’s Chief Executive Officer, commented: “This acquisition allows ERG to become one of the five leading photovoltaic operators in Italy, with over 140 MW of installed power and, at the same time, to achieve the plan objectives ahead of schedule with high quality assets. The operation will enhance our balancing of installed capacity, with an almost doubled contribution to EBITDA from the photovoltaic sector, in keeping with our technological diversification strategy, optimisation of our Energy Management portfolio and capitalisation of our industrial skills.”