Innovo Renewables Expands with Solar Asset Acquisition
Deal News | Jan 21, 2025 | Finance Community IT - 1 Corporate M&A
Innovo Renewables, an Italian company specializing in renewable energy projects across Italy, the UK, and Spain, has acquired 11 photovoltaic plants. These assets, which include agrivoltaic projects, are in advanced stages of development and have a total capacity of 66 MW. The acquisition is part of Innovo's strategic growth plan to own 150 MW of projects by mid-year. The construction of these projects, located in Lombardy, Tuscany, Lazio, Abruzzo, and Puglia, is expected to begin in summer 2025, with operational commencement between late 2025 and early 2026. This expansion is funded by a recent €30 million investment from Aviva Investors, which now holds a 45% stake in Innovo. The investment will support Innovo Renewables' aim to become a leading independent power producer in Europe.
Sectors
- Renewable Energy
- Private Equity
Geography
- Italy – Innovo Renewables is based in Italy, and many of the solar projects are located in different Italian regions.
- Europe – The article discusses Innovo's aim to become a leading independent power producer in Europe, encompassing a broader geographical strategy.
Industry
- Renewable Energy – The article centers around a company dealing with solar energy projects, highlighting the renewable energy industry.
- Private Equity – The involvement of Aviva Investors, a private equity firm, underscores the private equity aspect of the deal.
Financials
- €30 million – Investment made by Aviva Investors into Innovo Renewables.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Innovo Renewables | Target Company | Company | An Italian company that develops, builds, and manages renewable energy projects. |
| Aviva Investors | Investor | Company | A private equity firm providing financial backing to Innovo Renewables, holding a 45% stake. |
| Rodolfo Bigolin | Founder | Person | The founder of Innovo Renewables. |