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ERG enters the solar power business

Genoa, 16 November 2017 – ERG, through its subsidiary ERG Power Generation S.p.A., has signed an agreement with VEI Green, an investment holding company controlled by PFH S.p.A., with the participation of leading Italian institutional investors, for the acquisition of a 100% stake in ForVei, the ninth largest photovoltaic operator in Italy.

ForVei, a joint venture between VEI Green and Foresight created in 2011, owns and manages 30 photovoltaic plants located in 8 regions across Northern and Southern Italy. These plants, which came on stream between 2010 and 2011, have an installed capacity of 89 MW and annual output of around 136 GWh, corresponding to approximately 77 kt of avoided CO2 emissions. The entire installed capacity is eligible for incentives, with an average expiry date of 2030. 

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