Irish energy fund buys six Italian solar farms for €25m

An Irish renewable energy fund has snapped up six Italian solar energy farms in a deal worth more than €25m.

Solar21 is an Irish fund that was set up in 2010 and has built up a fund of over €100m to invest in photovoltaic solar farms across Europe.

The fund is aiming to pick up functioning solar farms with long-term, guaranteed feed-in-tariff agreements in place. After several months of indepth due diligence Solar21 agreed to buy the six photovoltaic farms off AEG Power Solutions.