S.A.G. Solarstrom AG, a German solar-project developer, signed a contract to sell a power plant in Italy to an unidentified institutional investor.
The company will dispose of the 48-megawatt Serenissima photovoltaic plant for a “three-digit-million-euro” figure, Freiburg-based S.A.G. Solarstrom said in a statement dated yesterday. The developer signed the contract Dec. 31 and will be paid in the current quarter, it said.
S.A.G. Solarstrom rose as much as 2.4 percent to 3.48 euros at 1:23 p.m. in Frankfurt. That pared the stock’s decline in the past 12 months to 17 percent.