Theia acquires operational Solar PV Portfolio for a total power of 2.9 MW from the German company Clean Power 3 GmbH

Theia Investments has successfully completed the acquisition of three PV plants, totalling 2,9 MWp, located in the municipalities of Penne (PE), Seclì (LE) and Mola di Bari (BA) which have so far been operated by the company Clean Power 3 GmbH, a company fully owned by Clean Power Holding/Schoeller Group. The sale of the assets -which happened through the transfer of 100% shares of three SPVs- has been completed with full satisfaction on both parties.

Theia Investment Team, commented: "We are very pleased to announce this important acquisition that allowed us to exceed the mark of 20 million invested in the Italian Solar PV since September 2019. We would like to thank Clean Power for their cooperation and our advisory team (Orrick, Moroni&Partners and ICFC) that helped us to achieve this important milestone".

Peter Pilenghi, Chief Financial Officer of Schoeller Group, representing Clean Power 3 GmbH in this transaction, a 100% subsidiary of the Schoeller Group, commented: "After a successful period of more than 10 years in operating PV plants in Italy we have decided to focus our strengths on the core areas of the corporate group and therefore to sell the PV plants. In Theia we have found a professional investor and operator for the plants. We would like to thank Theia Investments and their whole team as well as our legal advisor Dr. Stephan Bauer (ESCHE SCHÜMANN COMMICHAU), Paolo Giacometti (European Group Consulting) and our management team for the very fruitful cooperation".

THEIA: Backed by institutional investors, Theia was established to acquire operating solar projects with an initial focus on Italy.