Italian developers are moving from project development toward direct IPP ownership of operational, tariff-backed solar assets
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Altea Green Power acquired 100% of NB5 S.r.l., owner of a 16.75 MW operational photovoltaic plant in Montecchio Emilia, Reggio Emilia, in May 2026. The transaction value was approximately EUR 17 million, including EUR 16 million for the plant and EUR 1 million of positive net working capital. The asset has been operational since January 2024 and benefits from a 20-year FER 1 feed-in tariff from July 2025.

The deal signals a shift in Italy solar M&A: developers are no longer only selling pipelines. Some are moving into direct asset ownership to secure recurring cash flows, tariff visibility, and operating control.

Altea Green Power is a listed Italian developer and IPP. This acquisition brings forward its IPP portfolio strategy to 2026, ahead of the 2027 timeline in its 2024–2028 Business Plan. The asset stage matters. This was not an early-stage or RtB project. It was operational, incentivised, and already positioned for cash generation.

Enerdatics’ Europe M&A analysis shows buyers in Italy and Spain continued targeting solar assets across development stages, while operational solar assets in Europe traded up to $2.3 million/MW where tariff visibility supported valuation premiums.

For Italy solar M&A, the next signal is clear: operational FiT-backed assets will remain attractive as developers seek IPP margins, not just development exits.

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