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DWF with Italgen and Verdenergia in the acquisition of two hydroelectric power plants

19 June 2024

DWF, the global provider of integrated legal and business services, assisted Italgen Spa (Italmobiliare Investment Holding) and Verdenergia (Quiris Holding Industriale) which, through the joint venture Rovale srl, successfully finalised the acquisition of two new hydroelectric power plants in Tuscany (Bagni di Lucca) and Lombardy (Costa de' Nobili - Pavia).

Italgen Spa is a benefit company active in Italy in the production and transportation of energy from 100% renewable sources with 80.5 MW of currently installed capacity and an annual production in the region of 325 GWh. A wholly-owned subsidiary of Italmobiliare SpA, one of Italy's leading investment holding companies, listed on the Milan Stock Exchange since 1980 and controlled by the Pesenti family, Italgen owns 30 hydroelectric derivation concessions in Piedmont, Lombardy, Tuscany and Veneto, and manages 5 photovoltaic plants in operation in Lombardy, Piedmont, Marche and Puglia and a private network of 300 km of power lines. 

Verdenergia is a company of Quiris Sapa, an industrial holding company owned by the Quirico and Risso families that has been operating in the field of energy efficiency and power generation from renewable sources since 2008. With this transaction, Verdenergia, directly and through its subsidiaries, reaches an installed capacity in renewable assets (Italy and abroad) of 35 MW, further consolidating the weight of hydroelectricity in the production mix.

The two power plants will be able to guarantee an annual output of about 3 GWh, enough to meet the consumption of about 1,100 households. 

DWF's multi-disciplinary team was coordinated by Lawyer Enrico Maria Curti, Head of Power & Utilities, who - together with his team - also followed the regulatory and authorisation profiles of the transaction. The corporate and contractual profiles of the acquisition were managed by Avv. Matteo Polli, Counsel of the Corporate, M&A and Private Equity department.

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