Ardian Infrastructure team head Mathias Burghardt said: "This new investment of our third generation of Infrastructure funds illustrates our strategy of long-term partnership with industrial players."
Tozzi Group chairman Franco Tozzi said: "We are delighted to support Italy’s first biomass power plant project of this kind.
"It is an innovative system that will help to decrease CO2 emissions and bring long-lasting economic development to the Puglia region. We have worked successfully with Ardian over the last few years – they perfectly understand our long-term industrial aims."
Since 2007, Ardian, through its Infrastructure activity, and Tozzi Group, through its subsidiary TRE Tozzi Renewable Energy, have been working together to invest in renewable forms of energy.
Ardian holds 65% stake in TRE Solar, the latest joint venture vehicle, and Tozzi Group owns the remaining 35% stake.
Ardian and Tozzi Group are planning to invest over €100m in Agritre to construct a 25.2MW greenfield biomass power plant in southern part of Italy.
Scheduled to be completed in April 2016, the biomass power plant will burn residue from cereal cultivation and olive and vine pruning to provide a low-emission alternative for the disposal of agricultural waste material.
