SWISSPOWER RENEWABLES ACQUIRES 5 HYDROELECTRIC PLANTS IN LOMBARDY AND BASILICATA
22 november 2019
Swisspower Renewables, a Swiss company active in the hydroelectric sector, has acquired 5 hydroelectric plants: 3 in Lombardy (in the province of Sondrio) and 2 in Basilicata, totalling an installed capacity of approximately 12 MW. The transaction took place through the purchase of the entire corporate capital of the companies 3 Hydro (wholly owned by 3New & Partners) and Tecnowatt (owned by 3New & Partners and Gardini 2002). L&B Partners advised the buyer as financial and legal consultant, while Bird & Bird advised the sellers 3New & Partners and Gardini 2002.
“With this new acquisition, we are resolutely fulfiling our strategy of focusing on hydropower and on-shore wind in Italy and Germany. We expect further acquisitions in the future. At the same time, the company will gradually take over the management and maintenance of its hydroelectric plants in Italy which until now were entrusted to third-party suppliers. By managing our plants through our company, we can exploit synergies, strengthen our electricity generation know-how and reduce operating costs”, explained Felix Meier, CEO of Swisspower Renewables AG.
Founded in December 2011, Swisspower Renewables AG is a company owned by Swiss municipal companies and an investment fund that committed funds to Germany with 17 wind farms. It began operations in Italy in 2015, when it acquired 3 wind farms and 31 hydroelectric plants distributed among the regions of Northern Italy, in particular in Lombardy, amounting to a total output of 282 MW and a total production of approximately 640 million kWh per year. In August 2019 it acquired 50% of Energia Ambiente S.p.A. from 3New & Partners S.p.A., while the remaining 50% remained under the ownership of Bissi Holding S.p.A.. At the time, the company’s CEO Felix Meier had stated: “We are working on further developments and new investments to further increase our presence and production of renewable energy in view of the goals we have set for ourselves”.