Acta reduces solar power exposure

Italian clean energy company Acta is to sell two solar energy project consents to Fedi Impianti, its joint venture partner on a number of previous solar energy projects.

The consents relate to a 1.5 megawatt capacity project in Tuscany, with Acta being paid with a retained equity stake worth between €130,000 and €160,000.

The installation of the projects will be financed by Fedi without any funding or other financial support being provided by Acta.

Start your trial of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

Acta wants to focus on its electrolyser products and the disposal is part of the Italian firm's strategy of getting out of the pholtovoltaic (solar electricity) market.

Over the last 12 months Acta's stock has lost 85% of its value. At 11:28 on the morning of the sale announcement the shares were up 0.25p at 8.375p.

BS