The transaction is valued at EUR33m and is structured, arranged and managed by Foresight Group.
ForVEI is a joint venture comprising VEI Capital, Foresight Solar VCT and Quercus Renewable Energy, which is backed by primary investors including Assicurazioni Generali, Intesa Sanpaolo, Palladio Finanziaria, Veneto Banca and Banca Popolare di Vicenza Scrl.
The transaction follows the acquisition of the initial three OPDE PV plants for an enterprise value of EUR55m announced in September.
The two power projects are expected to yield an annual equity return of 13%.
Foresight Group Italy managing partner Pietro Zerauschek said ForVei now handles a portfolio of over 28MW with a medium average annual return of 13%.
