S.A.G. Solarstrom Signs Contract to Sell Power Plant in Italy

S.A.G. Solarstrom AG (SAG), 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 (SAG) 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.

To contact the reporter on this story: Stefan Nicola in Berlin at snicola2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net