Macquarie Asset Management set to divest stake in Hydro Dolomiti Energia
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Macquarie Asset Management announced in a press release, that it has secured an agreement to divest its stake in Hydro Dolomiti Energia (HDE).
The release mentioned that the asset manager is set to sell Macquarie European Infrastructure Fund 4’s 40% share to a consortium comprising Equitix Euro Funds, Tages Capital SGR S.p.A., and La Finanziaria Trentina S.p.A.
The consortium also involves local co-investors and institutions apart from the abovementioned parties.
According to the release, the agreement’s terms indicate that the business is valued at nearly €1 billion.
Also read: Macquarie Asset Management set to sell 37.5% stake in Race Bank Wind Farm for £330 million
Stéphane Brimont, a Managing Director at Macquarie Asset Management, said, “Hydropower is a strategic asset, playing a key role in the energy transition and providing a clean and system-critical source of power as the installation of new solar and wind accelerates across Italy.”
He added, “Under our stewardship with the Dolomiti Energia Group, HDE has continuously provided a secure and reliable source of electricity while developing a highly skilled technical and commercial operations team and contributing to the province’s economy. We wish the business every success as it embarks on its next chapter.”
Also read: Macquarie Asset Management acquires 49.9% stake in Hydro Rein
HDE operates several hydropower plants in Trento, an Italian province. Its installed capacity is 1.3 GW, and 29 plants operate across that region.
The 29 plants produce electricity sufficient enough to produce power required to run nearly one million homes annually.
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