Friday 4 June 2021 7:46 am

Power generators Contour Global continue Italian expansion in €50m deal

Power generation firm Contour Global has today snapped up a fleet of Italian solar plants from a group of private investors for €49.7m.

The new assets, which have a combined generation capacity of 18 megawatts, increase the FTSE 250 firm’s footprint in the country to 83 megawatts.

It said that the deal, which it struck in partnership with Energy Infrastructure Partners, would add about €8m in adjusted EBITDA each year.

Contour Global said that it saw a continuing pipeline of extra opportunities in the country.

Since it was founded in 2005, the firm has acquired a portfolio of 107 power plants, with nearly 5,000 megawatts of capacity, in 18 countries around the world.

It operates plants that both run on traditional fossil fuels such as gas and coal as well as renewables assets such as solar and wind.

The firm went public in November 2017, when it raised proceeds of $281m, which it used to finance a large US acquisition.

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