Terra Firma prepares the sale of RTR Rete Rinnovabile, Italy and Europe’s largest solar energy producer with 334 MWp of installed capacity and 130 plants all over Italy, DealReporter wrote.
The paneruopean private equity firm has just appointed a financial advisor for the deal which is said to be valued more than one billion euros.
Terra Firma invested in RTR in 2011, buying the company from Terna, one of Italy’s major utilities. Back then RTR had a 144MW installed capacity and was valued 755 million euros, of which 641 millions were equity value (download here the press release). Terra Firma’s Annual review reports that RTR reached 149 million euros in revenues in 2015 (from 157 millions in 2014) with 121 millions in ebitda (from 127 millions).
RTR had been boughtwithout staff and Terra Firma build the managing team from scratch. The group, led by ceo Paolo Lugiato, cfo Stefano Lagna and coo Matteo Riccieri, has been growing fast in the last few years through acquisitions of plants from Sorgenia, Terna, Acea and Edf Energies Nouvelles.
The last deal was announced last June and consisted in the acquisition eleven existing, connected solar photovoltaic power plants with a total capacity of 15.6 MW (see here the press release).
