Ashurst advised the private equity firm First Reserve on the sale of its Italian solar PV assets of SunReserve to Tages Helios, an infrastructure fund managed by Tages Capital SGR, established to invest in the Italian photovoltaic sector.

The portfolio comprises nine solar parks with a total power capacity of 101 MW and includes the Rovigo plant, one of the largest in Europe with a capacity of about 70 MW in an area of over 850 thousand square meters. Overall, the portfolio generates about 135 GWh per year.

The Ashurst Milan-based team was led by energy partner Carloandrea Meacci, assisted by senior associate Annamaria Pinzuti, who advised on the M&A aspects of the transaction; counsel Elena Giuffré and associate Pamela Infantino, who advised on the administrative law aspects; associate Federica Periale, who advised on the financing aspects and associates Rosario Morasca and Andrea Semmola who advised on project contracts.