Altea Green Power, an independent renewable power producer, has acquired 100% of the SPV NB5, a special-purpose vehicle (SPV) that owns a 16.75 MW photovoltaic project in Montecchio Emilia, Reggio Emilia, Italy, from an undisclosed seller.

The solar project has been operational since January 2024. The project also benefits from an FER 1 feed-in tariff from July 2025 for 20 years, according to the company. The release does not state the tariff amount, the offtaker, or the expected annual generation from the project.

The total purchase price of the transaction is approximately €17 million (~$19.8 million). Of the total, about €16 million (~$18.7 million) represents the value of the project, while the remaining €1 million (~$1.16 million) relates to positive net working capital components.

Giovanni Di Pascale, CEO of Altea Green Power, commented: “This transaction is a concrete milestone in the strategy outlined in the 24-28 Business Plan we presented in 2024, designed to bolster our core business by establishing an increasingly direct presence in the industrial phase as an Independent Power Producer. The acquisition of an operational and incentivized asset in Emilia-Romagna with solid cash generation prospects allows us to take a significant step in this direction, further strengthening our market positioning. Looking ahead, we aim to capture comparable opportunities that align with our industrial strategy and our dedication to generating sustainable value over the long term.”

Altea Green Power said the acquisition is in line with the strategy outlined in its 2024 to 2028 business plan. According to the company, the acquisition aligns with the evolution of its business model, which includes gradually expanding its role as an independent power producer alongside its existing project development activities.

According to Mercom’s Q1 2026 Solar Funding and M&A report, approximately 18.4 GW of solar projects were acquired in the first quarter of 2026, compared to 13.6 GW in Q1 2025.

In April 2026, CleanCapital, a U.S.-based independent power producer focused on distributed renewable energy, sold a 120 MW solar project in Harrison County, Ohio, to Energix Renewables, an independent power producer that develops, constructs, owns, and operates renewable energy projects.