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First Reserve draws bids for 101 MW Italian solar plants, say sources: Reuters

Private equity firm First Reserve has put up for sale a number of solar plants in Italy with a combined capacity of 101 megawatts drawing bids each worth around 100 million euros ($110 mln), several sources close to the matter said.

First Reserve is selling Italy’s San Bellino plant, the country’s biggest photovoltaic plant located in the north-eastern Veneto region, with an installed 70.5 MW capacity, and other assets.

The winning bid will be selected by July 27, the sources said.

One of the sources said Tages Capital was one of the suitors, while another source mentioned as a possible bidder a joint-venture between Enel Green Power and Italian infrastructure fund F2i.

Italy’s Quercus Investment Partners submitted a 90 million euro offer which it later withdrew, a different source said. The parties involved had no comment.

Bank of America Merrill Lynch is advising First Reserve.