VAM buys 49.9% stake in Italian PV plants owner S Solar

October 28 – Italian buyout firm VAM Investments announced on Friday it has bought a 49.9% stake in local photovoltaic (PV) power plants owner S Solar for about EUR 6 million (USD 6.5m).

The private equity firm said in a statement that the above-mentioned sum was in part invested through a capital hike, with the balance relating to a shareholder loan.

S Solar owns PV power facilities with a combined capacity of about 10 MW that serve industrial locations such as the Manifatture Sigaro Toscano cigar factory in Lucca, the San Quirico sugar refinery in Parma and the SAMP plant in Bologna.

Gruppo Industriale Maccaferri, through its subsidiary SECI Energia, will keep the controlling stake of 50.1%. The industrial group will also continue to operate S Solar’s plants through its Enerray unit.

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