Platina Partners LLP, a London-based private equity firm, bought three solar plants in Italy and plans to buy more to take advantage of growth in the world’s largest market for so-called photovoltaic power after Germany.
The investor in renewable energy agreed to buy plants with 15 megawatts of capacity yesterday and plans to boost business in the country to 30 to 50 megawatts through further purchases, Managing Partner Thomas Rottner said in an interview in London.
Including the latest transaction, the company operates 13 Italian solar parks with 25 megawatts of capacity.
The country’s overall installed projects have expanded to almost 9 gigawatts, from about 1 gigawatt in late 2009, the renewable energy regulator’s latest figures show. That has made the Italian market interesting for Platina, Rottner said.
The firm invests in projects using a 208 million-euro ($295 million) European renewable energy fund it closed to new investors in March 2010. Platina operates about 300 megawatts of renewable capacity, mainly in wind farms, and is studying creating another fund, Rottner said.
The company bought 15 megawatts of solar projects planned for India this year and may bid in a tender expected in France this month for incentives to build solar developments, he said.
Platina doesn’t have any immediate plans for new projects in Spain, where it operates the remainder of its solar capacity.