London, Luxembourg: 19 April, 2016: Quercus Assets Selection and Swiss Life Asset Managers announce the successful completion of the deal to acquire Antin Solar Investments (“ASI”) in a 50:50 joint venture. ASI now operates as Azienda Solare Italiana Spa. On 18 December 2015 the joint venture, called Quercus Swiss Life Italian Solar Srl, had entered into a binding agreement with Antin Infrastructure Partners to acquire a 100% stake in ASI.
Founded in 2011, ASI has become a leading photovoltaic (“PV”) investment platform in Italy. The portfolio today consists of nine plants with a total installed capacity of 77.1 MW, and is the fifth largest operator in Italy in terms of solar power generation. ASI’s facilities are located in Lazio, Sicily and Puglia, which are among the regions with the highest irradiation in Europe.
This deal represents an important landmark for both firms engaged in the joint venture. Quercus’ total European portfolio now exceeds 266 MW, and the combination of the Italian assets of Quercus and ASI represents the third largest photovoltaic operator in Italy in terms of installed capacity. Moreover, this deal increases the European presence of Swiss Life Asset Managers’ first managed fund while diversifying its renewable portfolio currently comprised of solar assets in Canada and wind farms in the US and the UK.
