Italy's Edison, F2i poised for RE JV

Italian utility Edison and infrastructure fund F2i have agreed to form a new renewable energy company, signing a deal which would put a total of 600MW of renewables assets into a joint venture.

Italian press reports have valued the transaction at around €800m ($1.07m), although Reuters reports the deal to be worth between between €400m and €500m.

An Edison spokesman confirmed to Recharge that an official announcement on the new deal is imminent, but declined to give details.

Edison operates renewables facilities in Italy with a total installed capacity of around 1.85GW, including hydroelectric plants, wind farms, solar facilities and a biomass plant.

In 2012 its production from renewables amounted to 4.8TWh, equivalent to some 20% of the total group’s output.