European Energy is selling the under-construction 39MW Bosco Le Piane wind farm in Italy to Quercus Assets Selection for an undisclosed price.
The project is located in the Basilicata region in the south of the country and will comprise 13 Siemens Gamesa turbines. It is scheduled for completion next month.
The sale is expected to be finalised before the end of the first quarter of 2019.
European Energy founder and chief executive Knud Erik Andersen said: “We have had a constructive dialogue with Quercus and we have come to appreciate their professionalism and focus on driving the process forward.
“It is the first time Quercus has acquired one of our projects, I hope that finalisation of the acquisition will be the start of a long term relationship to the benefit of both parties.”
Quercus Italian country manager Pietro Zerauschek said: “The business model of European Energy well fits the risk return profile offered to our investors and their international experience as a developer ensures the highest standard of quality.
“Wind is an important asset class for our infrastructure funds and we will pursue our growth also with the support of European Energy in Italy and other strategic European markets.”
Image: European Energy