Italian renewable energy developer Limes has sold a 287MW portfolio of solar PV and wind power projects to an unnamed “international independent power producer (IPP)”.
Located across Italy, the portfolio is evenly split between solar PV and wind power projects, Limes said in a statement. 50MWp of the solar projects are already authorised.
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Limes said it would continue to provide development support until the projects are ready to begin construction and advise the new owner during the final permitting phase. The company said that the IPP purchasing the portfolio has “presence” in Italy already.
Managing director of Limes, Cristiano Spillati, said the deal was a “pivotal moment” for the company.
“The sale of this portfolio to an international IPP investing in Italy, underscores the strength of our pipeline and our commitment to accelerating the energy transition in the country,” Spillati said.
The announcement comes as Italy’s utility-scale solar market is growing. After almost a decade of annual installations below 1GW, 2024 saw the utility-scale sector grow by 163% year-on-year. According to data from the national trade association, Italia Solare, just over 3GW of utility-scale solar capacity was added last year, the largest of any sector in a market which had been dominated by rooftop installations in recent years.
Momentum has continued so far in 2025. Investor Qualitas Energy and French asset manager Mirova established a joint venture (JV) in March, seeking to build a 250MW renewable energy portfolio across the country which includes a significant amount of PV capacity. Two weeks earlier Israel-headquartered renewable power developer Ellomay Capital secured a US$116 million loan for a 198MW Italian solar portfolio.
This time last year, PV Tech Premium spoke with Spillati about the resurgence of Italy’s solar PV market. We spoke about land use issues, grid congestion and a shortage of EPC contractors which posed challenges to the sector’s sustained growth.
Outside of Italy, Limes has a significant footprint in Latin America, particularly Chile. The company said it has a 6GW global project development pipeline and has successfully brought 17 projects with 275MW of combined capacity to the “ready-to-build phase”.
