Terna Finalizes Sales of Solar Project to Terra Firma

Italian electricity grid operator Terna has finalized the sale of its second solar power project to private equity fund Terra Firma, Reuters reported Monday. The deal is valued at 264 million euro ($365 million).

(Reuters) – Italian electricity grid operator Terna has finalised the sale of its second solar power project to private equity fund Terra Firma for an overall enterprise value of 264 million euros, Terna said on Monday.

In July, Terna announced the sale to Terra Firma and said the value was put at between 180 million and 260 million euros.

The gross proceeds from the deal of about 69 million euros will in part go towards the dividend, the company said.

(Writing by Nigel Tutt)