The developer Limes Renewable Energy, participated by the impact investment fund Oltre Venture, and Tayan Energy Investment (based in Madrid, a joint venture between the Chinese energy company Shanghai Electric and the Spanish Eland Private Equity) have signed a partnership to acquire photovoltaic projects in Italy, for a total power of about 55 MW.
Limes Renewable Energy, born in Milan in 2017, develops solar photovoltaic projects on unused land in Italy.
Led by the CEO Cristiano Spillati, Limes in February 2018 raised capital from individuals and institutional investors including Oltre Venture. The operation was carried out thanks to the support of the advisor Prothea, led by David Armanini, who is also M&A and Finance Director of Limes, with the aim of developing solar power plants in Italy for a total of 500MW. Subsequently, international diversification began with the launch of the business in Vietnam in Hanoi in September 2018, with the aim of developing plants for about 1 GW together with local partners and an important European utility, and then also opening a Latin American branch in Santiago, Chile in July 2019.
References
V. Magri. Be Beez. (06-05-2020). Limes e Tayan Energy Investment siglano partnership per acquisire progetti fotovoltaici in Italia. Available at: https://bebeez.it/2020/05/06/limes-tayan-energy-investment-siglano-partnership-acquisire-progetti-fotovoltaici-italia/