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Marathon Capital Advises Hive Energy on Sale of Four Photovoltaic Projects in Italy

August 03, 2023


Utility Scale Clean Power


Mergers and Acquisitions

  • Adam Ludwiczak

    Managing Director

Marathon Capital is pleased to announce that Hive Energy (“Hive”), has sold four photovoltaic projects in Italy with a total capacity of up to 200MW. The transfer of each of the four projects will take place as Hive brings them to Ready-to-Build status. This marks the first project sale for Hive in Italy with new sites being developed in Apulia, Sicily and Lazio using agri-voltaic technology which involves installing raised structures to achieve synergy between agriculture and the production of renewable energy. Once operational these agri-voltaic parks are expected to cover the electricity consumption of around 150,000 households, contributing to the decarbonisation targets set out in the 2030 National Integrated Energy and Climate Plan.

Marathon Capital supported Hive with targeted investor outreach and through negotiations, delivered key strategic and tactical advice to ensure the successful completion and execution of transaction documentation.

Hive Energy has a global portfolio of renewable energy projects, having constructed or sold ~2GW and deployed £1.5bn to date. Hive continues to expand and build on its experience, with a pipeline of nearly 10GW of solar projects across North America, South America, Europe, Africa, and New Zealand.

GreenIT is a JV between Eni and CDP Equity with the goal to develop, construct and manage plants for the production of electrical power from renewable sources in Italy. GreenIT is 51% owned by Eni and 49% by CDP Equity. The JV has an aim to reach an installed capacity of ~ 1GW by 2025, with expected investments amounting to ~€1.7bn.

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