News / Barclays Infrastructure Fund acquires photovoltaic plants in Italy

Barclays Infrastructure Fund acquires photovoltaic plants in Italy

🕔 October 2, 2013
US$3 billion final close for Macquarie Super Core Infrastucture Fund Series 1

Barclays European Infrastructure Fund II (BEIF II) has signed an agreement to acquire a 96% stake in four photovoltaic plants in the southern Italian region of Apulia for an undisclosed sum. The plants sum a total of 4 MW.

BIF has acquired the shares from Asetym Gestamp Solar SA, a wholly owned subsidiary of Corporacion Gestamp, a Spanish firm.

Gestamp Solar will remain the operator of the plant.

NCTM lawyers Matthew Trapani and Alice Bucolo provided assistance to Barclays. Macchi di Cellere Gangemi advised Asetym Gestamp Solar SA.

In 2011, Gestamp Solar closed a joint venture with BEIF II for a combine set of photovoltaic installations that operate in Italy for a total of 29 MW. The plants are located in the cities of Lecce, Palermo, Enna and Siracusa.

In April 2013, Barclays Infrastructure Funds (BIF) acquired a 51 % stake in Vimercate Salute S.p.A., the company that developed and currently manages the new Vimercate hospital, in the region of Lombardy, Italy.

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