(Alliance News) - Altea Green Power Spa announced Tuesday that it has signed a second co-development agreement with Aer Soléir, an Irish group that is among the leading players in the energy sector in Europe, in which Quantum Energy, a world leader in the sector, has a stake.

The partnership, the company explains in a note, "aims to jointly develop agri-voltaic projects for a total of about 300 MW over the next 36 months, allowing Altea Green Power to increase its market share in the renewable project development sector in Italy."

Aer Soléir, an Irish company based in Dublin and focused on the development, construction, and operation of multi-technology renewables, with a focus on utility-scale wind, solar, and energy storage projects across Europe, has secured a USD250 million financing commitment from 547 Energy.

Aer Soléir, the company explains in a note, is affiliated with the U.S. fund 547 Energy, which serves as an investment platform for Quantum Energy Partners, a provider of private capital to the global energy industry since 1998 and which currently has over USD17 billion in assets under management.

547 Energy and Quantum are both based in Houston, Texas.

Giovanni Di Pascale, founder & ceo of Altea Green Power, says, "We are very proud of the strengthening of the already fruitful collaboration with Aer Soléir with whom Altea signed an important co-development contract on July 1, 2022 on Storage BESS plants for over 510MW. This important new agreement will give a further boost to our ongoing commitment to renewable energy and to Altea Green Power's growth path, which is based on the core values of innovation and respect for the environment. The partnership with Aer Soléir, with whom we are committed to generating and sharing the fundamental value of sustainability and green, certifies Altea as a leading developer in the energy sector in Italy."

Andy Kinsella, ceo and Founding Partner of Aer Soléir, says, "The agreement signed with Altea Green Power represents our second collaboration with AGP with an experienced developer in the Italian renewables market. And this is because of the successful partnership to date on our BESS portfolio. The agreement is a demonstration of our commitment to expanding our existing portfolio of wind, solar and energy storage projects in Italy."

Altea Green Power's stock trades in the green by 6.2 percent at EUR2.83 per share.

By Chiara Bruschi, Alliance News reporter

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