(Alliance News) - Renergetica Spa announced Wednesday that it and its subsidiary Zaon Srl have formalized the sale of the special purpose vehicle Ren 174 Srl, holder of the single permit for the construction of a photovoltaic plant, with a capacity of less than 5 MW, in the Province of Biella.

The transaction follows by a few days the capital increase of Zaon Srl, which was officially approved by its extraordinary shareholders' meeting, and represents the first step for Renergetica's entry into the sector of the construction and operation of small- to medium-sized photovoltaic plants.

"This operation not only strengthens the group," commented Stefano Giusto, CEO of Renergetica, "but also represents a new and stimulating challenge for Renergetica, which, while maintaining its core business in the development of large photovoltaic plants, through its subsidiary Zaon, proposes itself as an independent power producer, producing and marketing electricity from renewable sources.

Renergetica's stock is unchanged at EUR6.80 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.