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.

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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