Dubai’s Adenium invests in Italian solar plants

27 Jun 2012

(MENAFN) Dubai-based Adenium Solar Energy Company Limited has acquired a stake in a 29 megawatt (MW) portfolio of grid-connected operational solar plants across Italy for USD156 million, Trade Arabia reported.

The company, which is a unit of Adenium Energy Capital, said that the portfolio will be jointly managed by Adenium and Foresight, an independent specialist environmental, infrastructure and private equity investor.

The joint venture is expected to grow the portfolio in the next 12 months to a total of 100MW.

Adenium Energy Capital was launched as an investment company, specialising in the investment and deployment of clean energy and alternative energy related sectors.

Foresight manages over USD1 billion worth of assets across a number of funds. The firm has investments in the UK, Italy and Spain.

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