StockMarketWire.com - Power generation businesses ContourGlobal said it has reached an agreement to acquire up to 100% of the shares in Green Hunter, a portfolio of solar photovoltaic assets totaling 18 MW located in Italy for €49.7 million.

The acquired assets - consist of 24 Solar PV primarily ground-mounted plants across Italy - would contribute approximately €8 million of adjusted earnings before interest, taxes, depreciation, and amortisation, or EBITDA, on an annual basis.

The majority of the solar assets are located in close proximity to the company's existing operations, 'benefiting from significant geographic synergies,' the company said.

The company and Energy Infrastructure Partners AG would have a 51% and a 49% interest in the shares of the acquired entity, respectively

The proposed acquisition is expected to complete in Q3 2021.



Story provided by StockMarketWire.com