RENAIO Infrastructure Fund S.C.A., SICAV-RAIF signs purchase agreement for a power plant in the Emilia-Romagna region
Augsburg-based RENAIO signed the purchase agreement for a hydropower plant in the Emilia-Romagna region on Friday, April 17, 2020.
Despite the major restrictions in European business life, RENAIO successfully completed the technical, economic and tax due diligence on the “Fornovo” power plant and negotiated a purchase agreement with the sellers of the power plant.
The hydropower plant is located in the village of Fornovo di Taro, around 20 kilometers south of the city of Parma, on the Taro River. The power plant was completed in the third quarter of 2016 and was connected to the grid in December 2016. It has an installed capacity of 380 KW. Two screw turbines from the turbine manufacturer Hydroalp are used.
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